mashreq€¦ · the inauguration of state oil firm saudi aramco's new research and development...

mashreqFixed Income Trading

Daily Market Update

Market Update

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Abu Dhabi taps Japan’s inpex to join USD22 billion oil project

Inpex Corp. of Japan is joining Total SA to develop the main onshore oil deposits in the UAE as Abu Dhabi picks new partners for a USD22 billion effort to

pump crude from its largest fields. Japan’s state-backed energy explorer will take a 5% stake in the fields, Yoichi Miyazawa, the trade minister, said at a

news conference in Tokyo on Monday. The concession will give Japan access to crude from the deposits for 40 years, starting January 1st , 2015, Inpex and

the emirate’s government-owned oil producer said in an e-mailed statement. Abu Dhabi, is boosting crude production capacity amid a global glut that cut

prices about 50% last year. OPEC, of which the UAE is the fifth-biggest producer, plans to meet June 5th to assess the market and production levels. The

group kept its output target unchanged at its last meeting in November, seeking to preserve market share, mostly among big buyers in Asia. (Bloomberg)

Tuesday, April 28, 2015

Etisalat to raise up to USD500 million through 2019 bond tap

Abu Dhabi-based telecommunications operator Etisalat will raise up to USD500 million through a re-opening of its June 2019 bond, which is expected to

price later on Tuesday, a document from lead arrangers showed. Price guidance for the issue has been set in the area of 80 basis points over midswaps, the

document showed. The bonds will be fungible with those issued earlier in the series after 40 days.Etisalat, rated Aa3/AA-/A+ by the main credit agencies,

said in a statement to the stock exchange that it would issue bonds under its USD7 billion global medium-term note programme. It did not provide any

details. HSBC and National Bank of Abu Dhabi are bookrunners for the bond tap. Last June, the company sold USD4.3 billion worth of maiden bonds in four

tranches with maturities ranging from five to 12 years, setting a record as the region's biggest corporate issue ever.(Reuters)

Dubai’s first IPO since November may come from Daman Investments

Daman Investments PJSC plans to raise about 700 million dirhams (USD191 million) in an initial public offering in June, according to Emirates Investment

Bank PJSC, which will manage the sale. The Dubai-based asset manager will sell 55% of its equity capital, said Husam Kutaifan, managing director for

investment banking at Emirates Investment Bank. The IPO plan comes amid an 18% rally in Dubai’s equity benchmark this month, after two quarters of

declines.“The market is showing signs of a recovery,” Kutaifan said in an interview. The regulator has approved the valuation and may give its assent on the

offer timing “in about two weeks,” he said. (Bloomberg)

Fair, stable oil prices to benefit everyone - Saudi oil minister

Fair and stable oil prices will benefit producers and consumers, allowing global supply and demand to grow at a steady pace, Saudi Arabia's Oil Minister Ali al-

Naimi said on Tuesday.While a roughly 50% drop in global oil prices since June last year has helped growing economies in Asia, it had posed "difficult

challenges" for many oil producers, the minister said."Oil is a long-term business, requiring long-term plans and investment," Naimi said in a speech to mark

the inauguration of state oil firm Saudi Aramco's new research and development centre in Beijing."Sudden rises or falls in the cost of oil are not welcome.

It's in all our interests to ensure stable prices." Naimi reiterated Saudi's pledge to meet oil demand in Asia."Asian demand for oil remains strong and we are

ready to supply whatever is required," he said."Oil will retain its pre-eminent position and Saudi Arabia will remain the number one supplier." Naimi told

Reuters last week that Saudi Arabia, the world's biggest crude exporter, was producing "around 10 million" barrels per day in April, near a record high.

Saudi Arabia is seeking to deepen its oil and gas cooperation with China which has overtaken the United States as the kingdom's largest trading partner.

The country's top oil companies - Saudi Aramco and Sinopec - operate joint venture refineries in Yanbu, Saudi Arabia, and Fujian, China. (Reuters)

Turkey considering canceling 4G auction on Erdogan remarks

Turkey’s government is considering canceling an auction for a 4G mobile network after President Recep Tayyip Erdogan said Turkey should wait instead for

5G, a technology standard which doesn’t yet exist, Haberturk reports citing Customs Minister Nurettin Canikli. (Bloomberg)

Treasuries divide backs Bullard warning Fed may get behind curve

Short-term Treasuries are no longer the losers of the bond market, backing James Bullard’s warning the Federal Reserve may fall behind in its efforts to cap

inflation. The president of the Fed Bank of St. Louis said in March the central bank risks being “behind the curve” on inflation if it doesn’t raise its

benchmark interest rate from near zero soon. Under the Fed’s rotation system, Bullard is scheduled to vote on monetary policy next year. Shorter-maturity

notes, those most influenced by what the central bank does with its main interest rate, are gaining this month in a sign investors are postponing forecasts

for an increase. Longer-term securities are falling as Fed efforts to spur the economy drive the outlook for inflation higher. The split shows bond traders are

growing more confident policy makers will delay raising borrowing costs to allow the economy to regain some momentum, following a run of mixed economic

data over the past year. (Bloomberg)

Korea bond yield climbs to seven-week high as easing bets pared

South Korea’s bonds declined, pushing the 10-year yield to the highest level in seven weeks, as improving economic data tempered speculation the central

bank will cut interest rates further. The economy is showing positive signals in better consumer sentiment and in the housing and property markets, Bank of

Korea Governor Lee Ju Yeol said at a meeting with economists in Seoul Tuesday. A report last week showed growth rebounded in the first quarter after

reaching a six-year low in the previous three months. The central bank has reduced its policy rate by 75bp over the past year to a record 1.75%. The yield

on government bonds due September 2024 increased to 2.37%, the highest since March 10, Korea Exchange prices show. The five-year yield rose to 2

percent. The won climbed 0.3% to 1,070.02 a dollar, data compiled by Bloomberg show. Thirteen of 28 economists surveyed by Bloomberg see Korea’s

benchmark rate at 1.5% by the end of the year, while 14 expect it to remain unchanged and one predicts a rise to 2%. GDP grew 0.8% in the January-

March period on a quarterly basis, compared with 0.3% in the previous three-month period. (Bloomberg)


Daily Market Update

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China overnight rate slides to 14-month low on ample cash supply

China’s overnight money rate fell to its lowest in more than a year, a sign banks are flush with cash after monetary easing was stepped up in the past six

months. The PBOC has eased lenders’ reserve requirements and benchmark interest rates twice since November to support an economy expanding at the

slowest pace in six years. The central bank didn’t conduct any open-market operations in Tuesday’s auction window. The overnight repo rate, a gauge of

funding availability in the interbank market, declined to 1.72%, the lowest since February 2014, a weighted average from the National Interbank Funding

Center shows. The PBOC is discussing adopting unconventional policies including making direct purchases of local government bonds from the market,

Market News International reported Monday, citing unidentified people. Previous reports from the Wall Street Journal and Bloomberg News indicated officials

were considering letting banks use the notes as collateral for loans from the central bank. (Bloomberg)

Worst Asian default forgiven as Indonesia billionaire sells debt

Foreign investors have either forgiven or forgotten the events that involved the billionaire Widjaja family in Asia’s worst corporate default. Companies

backed by 91-year-old Eka Tjipta Widjaja, Indonesia’s fourth-richest person, received orders twice the size of two bond issues last week at yields below the

average of Asian junk-rated peers. Developer PT Bumi Serpong Damai raised $225 million from a debut sale of U.S. dollar notes. Golden Agri-Resources

Ltd., the world’s second-largest palm-oil producer, issued SGD125 million ($94 million) in its third sale in a year. The family is also preparing a bid for an

Indonesian coal producer in the midst of a dollar-debt restructuring. Fourteen years after Widjaja’s sprawling Sinarmas empire was pummeled by a $14

billion default by its Asia Pulp & Paper business, investors are showing faith in its credit. The combined market value of 12 family-controlled companies listed

on the Singapore and Jakarta exchanges has held steady at about $15 billion over the past year. Moody’s Investors Service this month rated Bumi Serpong

at Ba3, the third-highest junk grade, citing the developer’s healthy finances. (Bloomberg)

Venezuela enriches Goldman Sachs, hedge funds as bonds surge 22%

A little faith in Venezuela’s ability to ward off a default is paying off in a big way. As the nation’s bonds hovered close to their all-time lows at the start of the

year, investors including Goldman Sachs Asset Management and hedge fund Constellation Capital Management said they scooped up the notes betting that

Venezuela might just be able to cobble together enough financing to pay its debt at least in the short-term. The country, roiled by the collapse in oil prices,

has been doing just that. It’s swapped some gold reserves for USD1 billion and may soon get cash upfront for debt that Jamaica owes on crude shipments.

That’s prompted traders to scale back default wagers, helping to spur a 22 % jump in Venezuela bonds this month that’s the biggest in developing nations.

(Bloomberg)

Rupee rises for a second day as global funds buy Indian bonds

India’s rupee rose for a second day as the dollar weakened and global funds resumed purchases of local bonds after the government sought to clear

uncertainties over a retrospective tax on capital gains. Overseas funds bought a net USD130 million of local-currency notes on April 24th, the latest figures

show, as tax authorities clarified that investors can use the Double Taxation Avoidance treaties signed between India and their countries of residence to

reject demands for a 20% tax on past capital gains. That’s the biggest single-day purchase since March 23rd and ended five days of withdrawals. The levy

has been scrapped in the financial year that began April 1st . The rupee climbed 0.3 % to 63.3150 a dollar as of according to prices from local banks

compiled by Bloomberg. The currency touched 63.7675 on Monday, its lowest level since Dec. 30th, following a 1.9 % retreat last week that was its biggest

since August 2013. Government bonds advanced on Tuesday.(Bloomberg)

Kerry visits a piece of Iran on Manhattan’s upper East Side

US Secretary of State John Kerry met his counterpart Javad Zarif on territory under Iran’s jurisdiction and did it on Manhattan’s Upper East Side. Kerry held

an hour-long session Monday with Zarif, Iran’s foreign minister, at the residence of the Islamic Republic’s ambassador to the United Nations. The U.S. and

Iran broke diplomatic relations in 1979 after a group of Iranian students took over the U.S. embassy in Tehran, holding 52 American diplomats hostage for

444 days. The encounter was the first between Kerry and Zarif since world powers and Iran reached a nuclear framework agreement on April 2. The

location may get some attention from U.S. critics of the proposed deal with Iran, just as hard-liners in Iran criticized Zarif for taking what they took to be a

too-friendly walk with Kerry along the Rhone River during talks in Geneva in January. Although the ambassador’s home is considered under Iran’s

jurisdiction and enjoys certain protections under international agreements, like all such UN diplomatic residences, it’s within the territorial control of the

United States, a State Department official said.(Bloomberg)

Iran guards escalate spat with Saudi Arabia over Yemen

The head of Iran’s revolutionary guards accused Saudi Arabia of “mass murdering” civilians in Yemen, escalating a spat with the kingdom over the conflict in

the impoverished country. Mohammad Ali Jafari said the Saudi ruling family is “on the verge of collapse,” according to the official Islamic Republic News

Agency, in one of the harshest recent attacks against Saudi Arabia by an Iranian official. The kingdom is “shamelessly bombing and mass murdering a

population that’s seeking to oppose an oppressive regime,” he said. The Saudi announcement of an end to the first phase of its air campaign was

“predicated on the notion that people would freeze in place,” and that didn’t happen as the Houthis were “taking advantage” of the pause, Kerry said at a

press conference in New York.

The rebels seized the presidential residence in Aden on Monday, Sky News Arabia reported. At least 16 civilians were killed in the latest clashes in the

southern port, health officials said. Aden was the last stronghold of Yemen’s Saudi-backed president, Abdurabuh Mansur Hadi, before he fled the country

last month. (Bloomberg)


Daily Market Update

New Issue

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Earnings Update

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Reliance Communication raised USD 300 million from the sale of 6.50%5.5-year bond at a re-offer price of 100.00.

Du first-quarter profit declines 0.6% as revenue growth slows

First quarter net earnings were AED487 million versus AED490 million last year, Dubai-based telecom operator says in statement to Dubai Financial Markets.


Daily Market Update

Change Change USD EUR AED

Spread Day YTD Last 1d Chg Last 1d Chg Last 1d Chg

iTraxx Europe 59.068 -2.607 -3.932 2-Year 0.784 0.006 0.064 -0.002 1.301 -0.001

iTraxx Europe Crossover 259.643 -11.612 -85.942 5-Year 1.498 0.004 0.207 -0.004 2.305 0.000

CDX North America IG 61.223 -0.203 -4.898 10-Year 2.002 -0.002 0.502 -0.004 3.430 -0.010

CDX North America HY 333.147 -0.043 -23.807 30-Year 2.388 -0.002 0.808 -0.002 N/A N/A

iTraxx SovX Western Europe 26.600 0.490 -1.265 Source: Bloomberg

iTraxx SovX CEEMEA 325.495 1.035 10.075

iTraxx Europe Senior Financial 70.641 -2.836 3.205

iTraxx Europe Sub Financial 143.870 -3.997 -4.996

Source: Bloomberg

Change Change Last Change

bps Spread Day YTD YTD (%)

Emirate of Abu Dhabi 5Y 60.470 -0.030 -3.070 S&P 500 2,108.92 2.43

Emirate of Dubai 5Y 207.945 -0.065 -18.950 Dow Jones Industrial Avg 18,037.97 1.21

Kingdom of Bahrain 5Y 284.580 -2.970 42.840 DFM General Index 4,119.50 9.15

State of Qatar CDS 5Y 72.510 0.010 0.000 ADX General Index 4,648.52 2.64

Kingdom of Saudi Arabia 5Y 71.535 0.035 4.825 Qatar Exchange Index 12,192.21 -0.76

Lebanese Republic 5Y 372.435 -1.650 -22.640 TASI 9,710.93 16.53

Republic of Turkey 5Y 222.684 -6.418 38.291 Spot Gold 1,200.95 1.40

Arab Republic of Egypt 5Y 329.940 0.000 48.160 Spot Silver 16.37 4.19

Source: Bloomberg WTI Crude 56.29 5.67

Brent Crude 64.20 11.98

Source: Bloomberg

Change Change

1 Month 1 Year

Mashreq Al-Islami Income Fund 15.58100 1.06% 5.68%

Mashreq Al-Islami Arab Tigers 19.56730 6.10% -1.89%

Makaseb Income Fund 12.97467 1.10% 3.08%

Source: Bloomberg


bps

CREDIT MARKETS SWAPS

-0.03

CDS MISCELLANEOUS

Change

Day

-8.77

-42.17

-32.43

-25.64

152.15

-14.24

-1.20

-0.70

-0.63

MUTUAL FUNDS

Last (NAV)

Fixed Income Trading

April 28, 2015

Security Name ISIN Code MaturityOutst.

Amnt (Mn)

Min Piece/

Incr. (000)

Value at

MaturityCurrency Coupon Type Coupon % Indic. Bid Indic. Offer

Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Abu Dhabi Govt Int'L XS0422754258 08-Apr-19 1500 100/1 100 USD Fixed 6.750 117.75 119.75 1.56 AA /Aa2 /AA

Arab Republic Of Egypt XS0505265859 29-Apr-20 1000 100/1 100 USD Fixed 5.750 103.75 107.75 4.02 B- /B3 /B

Arab Republic Of Egypt XS0505478684 30-Apr-40 500 100/1 100 USD Fixed 6.875 101.75 105.75 6.41 B- /B3 /B

Bahrain (CBB Int.) (S) XS0708899272 22-Nov-18 750 100/1 100 USD Fixed 6.273 111.13 112.63 2.54 BBB- /- /-

Commonwealth Of Bahamas USP06518AF40 16-Jan-24 300 200/1 100 USD Fixed 5.750 107.63 109.63 4.41 BBB /Baa2 /-

Dubai Government (S) XS0778097088 02-May-17 600 200/1 100 USD Fixed 4.900 106.63 107.63 1.05 Not Rated

Dubai Government (S) XS0778097674 02-May-22 650 200/1 100 USD Fixed 6.450 120.25 121.25 3.06 Not Rated

Dubai Government (S) XS0880424337 30-Jan-23 750 200/1 100 USD Fixed 3.875 103.50 104.50 3.21 Not Rated

Dubai Govt Int'L Bonds XS0546426528 05-Oct-15 500 100/1 100 USD Fixed 6.700 102.63 103.13 -0.55 Not Rated

Dubai Govt Int'L Bonds XS0546428144 05-Oct-20 750 100/1 100 USD Fixed 7.750 123.63 125.63 2.65 Not Rated

Dubai Govt Int'L Bonds XS0640032594 22-Jun-21 500 100/1 100 USD Fixed 5.591 114.25 115.25 2.87 Not Rated

Dubai Dof Sukuk Ltd (S) XS1062038143 30-Apr-29 750 200/1 100 USD Fixed 5.000 104.38 105.38 4.48 Not Rated

Dubai Govt Int'L Bonds XS0880597603 30-Jan-43 500 200/1 100 USD Fixed 5.250 94.75 96.75 5.48 Not Rated

Ethiopia XS1151974877 11-Dec-24 1000 200/1 100 USD Fixed 6.625 99.13 101.13 6.46 B /B1 /B

Emirate of Ras Al Khaimah (S) XS1210507650 31-Mar-25 1000 200/1 100 USD Fixed 3.094 99.50 100.50 3.04 - /- /A

Gabonese Republic XS0333225000 12-Dec-17 161 100/1 100 USD Fixed 8.200 105.63 107.63 5.05 B+ /- /BB-

Gabonese Republic XS1003557870 12-Dec-24 1500 200/0.001 100 USD Fixed 6.375 98.38 100.38 6.32 B+ /- /BB-

Govt Of Bermuda USG10367AB96 06-Feb-24 750 200/1 100 USD Fixed 4.854 107.13 109.13 3.63 AA- /A1 /A+

Islamic Rep Of Pakistan USY8793YAK83 31-Mar-16 500 100/1 100 USD Fixed 7.125 101.88 103.88 2.79 B- /Caa1 /-

Islamic Rep Of Pakistan USY8793YAM40 01-Jun-17 750 100/1 100 USD Fixed 6.875 103.13 105.13 4.27 B- /Caa1 /-

Islamic Rep Of Pakistan XS1056560763 15-Apr-19 1000 200/1 100 USD Fixed 7.250 104.88 106.88 5.30 B- /Caa1 /-

Islamic Rep Of Pakistan (S) XS1147732553 03-Dec-19 1000 200/1 100 USD Fixed 6.750 103.25 105.25 5.44 B- /Caa1 /-

Islamic Rep Of Pakistan XS1056560920 15-Apr-24 1000 200/1 100 USD Fixed 8.250 109.13 111.13 6.58 B- /Caa1 /-

Islamic Rep Of Pakistan USY8793YAL66 31-Mar-36 300 100/1 100 USD Fixed 7.875 97.63 99.63 7.91 B- /Caa1 /-

Ivory Coast XS1089413089 23-Jul-24 750 200/1 100 USD Fixed 5.375 95.00 97.00 5.80 - /B1 /B

Ivory Coast XS1196517434 03-Mar-28 1000 200/1 100 USD Fixed 6.375 100.38 102.38 6.10 - /B1 /B

Ivory Coast XS0496488395 31-Dec-32 2519 100/1 100 USD Step Cpn 5.750 95.25 97.25 6.12 - /- /B

Kingdom Of Bahrain XS0498952679 31-Mar-20 1250 100/1 100 USD Fixed 5.500 108.13 109.63 3.36 BBB- /NR /BBB

Kingdom Of Bahrain XS0794901727 05-Jul-22 1500 200/1 100 USD Fixed 6.125 111.25 112.75 4.06 BBB- /- /BBB

Kingdom Of Bahrain XS0956406135 01-Aug-23 1500 200/1 100 USD Fixed 6.125 111.13 112.63 4.29 BBB- /- /BBB

Kingdom Of Bahrain XS1110833123 19-Sep-44 1250 200/1 100 USD Fixed 6.000 98.38 99.88 6.01 BBB- /- /BBB

Kingdom Of Jordan XS0557127353 12-Nov-15 750 200/1 100 USD Fixed 3.875 99.38 101.38 1.27 BB- /B1 /-

Sovereign


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Kingdom Of Morocco XS0307883891 27-Jun-17 500 50/1 100 EUR Fixed 5.375 107.88 109.88 0.74 BBB- /Ba1u /BBB-

Kingdom Of Morocco XS0546649822 05-Oct-20 1000 50/1 100 EUR Fixed 4.500 111.13 113.13 1.93 BBB- /- /BBB-

Kingdom Of Morocco XS0850020586 11-Dec-22 1500 200/1 100 USD Fixed 4.250 102.38 104.38 3.59 BBB- /- /BBB-

Kingdom Of Morocco XS1079233810 19-Jun-24 1000 100/1 100 EUR Fixed 3.500 105.88 107.88 2.52 BBB- /- /BBB-

Kingdom Of Morocco US617726AG97 11-Dec-42 750 200/1 100 USD Fixed 5.500 107.38 110.38 4.82 BBB- /- /BBB-

Lebanese Republic XS0493540297 09-Mar-20 1200 1/1 100 USD Fixed 6.375 103.75 105.75 5.02 B- /NR /B

Lebanese Republic XS1196417569 26-Feb-25 800 1/1 100 USD Fixed 6.200 100.63 102.63 5.84 B- /- /B

Lebanese Republic XS1196419854 26-Feb-30 1400 1/1 100 USD Fixed 6.650 102.13 104.13 6.22 B- /NR /B

Malays Govt (S) USY9485PAA04 06-Jul-16 1200 250/1 100 USD Fixed 2.991 101.50 102.50 0.86 A- /A3 /-

Malays Govt (S) USY9485PAB86 06-Jul-21 800 250/1 100 USD Fixed 4.646 110.38 111.88 2.56 A- /A3 /-

Mongolia Intl Bond US60937GAA40 05-Jan-18 500 200/1 100 USD Fixed 4.125 93.13 95.63 5.91 B+ /B2 /B+

Mongolia Intl Bond US60937GAB23 05-Dec-22 1000 200/1 100 USD Fixed 5.125 88.25 90.75 6.70 B+ /B2 /B+

Provincia De Buenos Aire XS0546539486 05-Oct-15 1050 100/1 100 USD Fixed 11.750 99.00 101.50 8.08 CCC- /Caa2 /-

Rak Capital (S) XS0568993918 28-Jan-16 400 100/1 100 USD Fixed 5.239 103.13 104.13 -0.30 A /- /A

Rak Capital (S) XS0981184541 21-Oct-18 500 200/1 100 USD Fixed 3.297 103.25 105.25 1.73 A /- /A

Republic of Angola XS0814512223 16-Aug-19 1000 250/1 100 USD Fixed 7.000 101.88 103.88 5.97 B+ /Ba2 /-

Republic Of Azerbaijan XS1044540547 18-Mar-24 1250 200/1 100 USD Fixed 4.750 103.75 105.25 4.04 - /Baa3 /BBB-

Republic Of Congo XS0334989000 30-Jun-29 418 1/1 100 USD Step Cpn 3.500 90.38 91.88 6.44 - /- /B+

Republic Of Ghana XS0323760370 04-Oct-17 531 100/1 100 USD Fixed 8.500 102.88 104.88 6.30 B- /B3 /B

Republic Of Ghana XS0956935398 07-Aug-23 1000 200/0.001 100 USD Fixed 7.875 95.13 97.13 8.36 B- /B3 /B

Republic Of Ghana XS1108847531 18-Jan-26 1000 200/1 100 USD Fixed 8.125 95.25 97.25 8.52 B- /B3 /B

Republic of Indonesia (S) USY68616AA22 21-Nov-18 1000 200/1 100 USD Fixed 4.000 104.00 106.00 2.23 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAB24 15-Mar-19 1500 200/1 100 USD Fixed 6.125 112.13 113.63 2.42 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAA41 21-Nov-22 1000 200/1 100 USD Fixed 3.300 97.88 99.38 3.39 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BD05 15-Apr-23 1500 200/1 100 USD Fixed 3.375 97.88 99.38 3.46 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BJ74 15-Jan-24 2000 200/1 100 USD Fixed 5.875 114.88 116.38 3.66 BB+ /Baa3 /BBB-

Republic of Indonesia (S) US71567RAC07 10-Sep-24 1500 200/1 100 USD Fixed 4.350 102.38 103.88 3.85 - /Baa3 /BBB-

Republic Of Indonesia USY20721BG36 15-Jan-25 2000 200/1 100 USD Fixed 4.125 101.88 103.38 3.71 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BB49 17-Jan-42 2250 200/1 100 USD Fixed 5.250 105.75 107.25 4.77 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BE87 15-Apr-43 1500 200/1 100 USD Fixed 4.625 98.25 99.75 4.64 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BK48 15-Jan-44 2000 200/1 100 USD Fixed 6.750 128.13 129.63 4.83 BB+ /Baa3 /BBB-

Republic Of Indonesia USY20721BM04 15-Jan-45 2000 200/1 100 USD Fixed 5.125 104.50 106.00 4.75 BB+ /Baa3 /BBB-

Republic Of Kazakhstan XS1120709669 14-Oct-24 1500 200/1 100 USD Fixed 3.875 97.63 99.13 3.99 BBB /Baa2 /BBB+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic Of Kazakhstan XS1120709826 14-Oct-44 1000 200/1 100 USD Fixed 4.875 93.25 94.75 5.23 BBB /Baa2 /BBB+

Republic Of Kenya XS1028951850 24-Jun-19 750 200/1 100 USD Fixed 5.875 102.75 104.25 4.73 B+ /- /B+

Republic Of Kenya XS1028952403 24-Jun-24 2000 200/1 100 USD Fixed 6.875 105.38 106.88 5.89 B+ /- /B+

Republic of Mozambique XS0969351450 11-Sep-20 850 200/1 100 USD Fixed 6.305 96.50 98.50 6.64 - /B1 /-

Republic Of Namibia XS0686701953 03-Nov-21 500 200/1 100 USD Fixed 5.500 110.00 111.50 3.51 - /Baa3 /BBB-

Republic Of Nigeria XS0944707651 12-Jul-18 500 200/1 100 USD Fixed 5.125 101.25 103.25 4.03 B+ /- /BB-

Republic Of Nigeria XS0584435142 28-Jan-21 500 200/1 100 USD Fixed 6.750 106.00 108.00 5.12 B+ /- /BB-

Republic Of Nigeria XS0944707222 12-Jul-23 500 200/1 100 USD Fixed 6.375 104.00 106.00 5.46 B+ /- /BB-

Republic Of Rwanda XS0925613217 02-May-23 400 200/1 100 USD Fixed 6.625 101.13 103.13 6.12 B+ /- /B+

Republic Of Senegal XS0625251854 13-May-21 500 200/1 100 USD Fixed 8.750 110.88 112.88 6.16 B+ /B1 /-

Republic Of Senegal XS1090161875 30-Jul-24 500 200/1 100 USD Fixed 6.250 97.38 99.38 6.34 B+ /B1 /-

Republic Of Seychelles XS0471464023 01-Jan-26 169 0.1/0.1 100 USD Step Cpn 7.000 97.50 100.50 7.60 - /- /B+

Republic Of Slovenia XS0982708926 18-Feb-19 1500 200/1 100 USD Fixed 4.125 105.25 106.75 2.26 A- /Baa3 /BBB+

Republic Of Slovenia XS0982709221 18-Feb-24 2000 200/1 100 USD Fixed 5.250 114.25 115.75 3.18 A- /Baa3 /BBB+

Republic Of South Africa XS0250007498 05-Apr-16 750 50/1 100 EUR Fixed 4.500 102.88 104.38 -0.19 BBB- /Baa2 /BBB

Republic Of South Africa US836205AD62 23-Jun-17 141 1/1 100 USD Fixed 8.500 112.88 114.38 1.65 BBB- /Baa2 /BBB

Republic Of South Africa US836205AM61 27-May-19 2000 100/1 100 USD Fixed 6.875 114.63 116.13 2.67 BBB- /Baa2 /BBB

Republic Of South Africa US836205AN45 09-Mar-20 2000 100/1 100 USD Fixed 5.500 109.63 111.13 3.02 BBB- /Baa2 /BBB

Zar Sov Capital Fund (S) XS1113141441 24-Jun-20 500 200/1 100 USD Fixed 3.903 102.13 103.63 3.13 BBB- /Baa2 /BBB

Republic Of South Africa US836205AL88 30-May-22 1000 100/1 100 USD Fixed 5.875 113.25 114.75 3.50 BBB- /Baa2 /BBB

Republic Of South Africa US836205AQ75 17-Jan-24 1500 100/1 100 USD Fixed 4.665 105.50 107.00 3.72 BBB- /Baa2 /BBB

Republic Of South Africa US836205AR58 16-Sep-25 2000 200/1 100 USD Fixed 5.875 113.50 116.50 3.92 BBB- /Baa2 /BBB

Republic Of South Africa XS1090107159 24-Jul-26 500 100/1 100 EUR Fixed 3.750 107.50 110.50 2.66 BBB- /Baa2 /BBB

Republic Of South Africa US836205AP92 08-Mar-41 750 100/1 100 USD Fixed 6.250 119.88 122.88 4.71 BBB- /Baa2 /BBB

Republic Of South Africa US836205AS32 24-Jul-44 1000 200/1 100 USD Fixed 5.375 106.63 109.63 4.76 BBB- /Baa2 /BBB

Republic Of Sri Lanka USY8137FAA67 14-Jan-19 1000 200/1 100 USD Fixed 6.000 102.38 103.88 4.84 B+ /B1 /BB-

Republic Of Sri Lanka USY8137FAB41 11-Apr-19 500 200/1 100 USD Fixed 5.125 99.38 100.88 4.88 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAF12 04-Oct-20 1000 100/1 100 USD Fixed 6.250 102.63 104.63 5.26 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAG94 27-Jul-21 1000 200/1 100 USD Fixed 6.250 101.50 104.50 5.39 B+ /B1 /BB-

Republic Of Sri Lanka USY2029SAH77 25-Jul-22 1000 200/1 100 USD Fixed 5.875 99.38 102.38 5.47 B+ /B1 /BB-

Republic of Turkey Hazine M. (S) XS0975124180 10-Oct-18 1250 200/1 100 USD Fixed 4.557 104.50 105.50 2.87 - /Baa3 /BBB-

Republic Of Turkey US900123AX87 05-Jun-20 2000 2/1 100 USD Fixed 7.000 114.75 116.25 3.49 NR /Baa3 /BBB-

Republic Of Turkey XS0503454166 18-May-20 2000 50/1 100 EUR Fixed 5.125 112.38 113.88 2.19 NR /Baa3 /BBB-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Republic Of Turkey US900123CA66 23-Mar-23 1500 200/1 100 USD Fixed 3.250 94.00 95.50 3.92 - /Baa3 /BBB-

Republic Of Turkey XS1057340009 11-Apr-23 1000 100/1 100 EUR Fixed 4.125 109.38 110.88 2.59 - /Baa3 /BBB-

Republic Of Turkey US900123CF53 22-Mar-24 2500 200/1 100 USD Fixed 5.750 110.38 111.88 4.14 - /Baa3 /BBB-

Republic Of Turkey US900123CJ75 14-Apr-26 1500 200/1 100 USD Fixed 4.250 97.63 99.13 4.35 - /Baa3 /BBB-

Hazine Mustesarligi Varl (S) XS1141043296 25-Nov-24 1000 200/1 100 USD Fixed 4.489 100.25 101.75 4.26 - /Baa3 /BBB-

Republic Of Turkey US900123BG46 30-May-40 2000 100/1 100 USD Fixed 6.750 121.13 124.13 5.04 NR /Baa3 /BBB-

Republic Of Turkey US900123CB40 16-Apr-43 3000 200/1 100 USD Fixed 4.875 95.75 98.75 4.96 - /Baa3 /BBB-

Republic Of Turkey (S) XS0831353361 26-Mar-18 1500 200/1 100 USD Fixed 2.803 98.88 100.38 2.67 NR /Baa3 /BBB-

Republic Of Venezuela US922646AT10 15-Aug-18 753 1/1 100 USD Fixed 13.625 75.00 80.00 22.52 CCC /Caa3 /CCC

Republic of Vietnam (Socialist) USY9384RAA87 19-Nov-24 1000 200/1 100 USD Fixed 4.800 103.38 105.38 4.11 BB- /B1 /-

Republic Of Zambia XS0828779594 20-Sep-22 750 200/1 100 USD Fixed 5.375 91.38 93.88 6.43 B+ /- /B

Republic Of Zambia XS1056386714 14-Apr-24 1000 200/1 100 USD Fixed 8.500 107.13 109.63 7.03 B+ /- /B

Sharjah Sukuk Ltd (S) XS1106137687 17-Sep-24 750 200/1 100 USD Fixed 3.764 106.13 107.63 2.83 A /A3 /-

State Of Qatar XS0615235537 20-Jan-17 2000 200/1 100 USD Fixed 3.125 103.50 104.50 0.50 AA /Aa2 /-

State Of Qatar XS0423038875 09-Apr-19 1000 100/1 100 USD Fixed 6.550 117.50 119.00 1.56 AA /Aa2 /-



State Of Qatar XS0113419690 15-Jun-30 1400 10/1 100 USD Fixed 9.750 170.63 173.13 3.49 AA /Aa2 /-



State Of Qatar (S) XS0801656256 18-Jan-18 2000 200/1 100 USD Fixed 2.099 101.88 102.88 1.02 AA /Aa2 /-

State Of Qatar (S) XS0801656330 18-Jan-23 2000 200/1 100 USD Fixed 3.241 103.63 105.13 2.51 AA /Aa2 /-

Tunisia US066716AG65 16-Jul-19 485 200/1 100 USD Fixed 1.686 99.38 101.38 1.35 Not Rated

Tunisia (Banque Centrale de.) XS0222293382 22-Jun-20 400 50/1 100 EUR Fixed 4.500 103.38 105.38 3.34 NR /Ba3 /WD

Tunisia (Banque Centrale de.) US066716AB78 19-Sep-27 150 1/1 100 USD Fixed 8.250 119.63 121.63 5.78 NR /Ba3 /WD

United Rep Of Tanzania XS0896119897 09-Mar-20 600 200/1 100 USD FRN 6.397 101.88 104.38 5.39 Not Rated

Aabar Investments Pjsc (C) XS0632138961 27-May-16 1250 100/100 100 EUR Fixed 4.000 139.88 142.88 -27.50 Not Rated

Bahrain Mumtalakat Hold (S) XS1143085014 25-Nov-21 600 200/1 100 USD Fixed 4.000 99.75 101.25 3.78 BBB- /- /BBB

Dubai Holding Comm Op XS0285303748 01-Feb-17 500 50/50 100 GBP Fixed 6.000 102.50 104.00 3.60 NR /WR /WD

IPIC XS0860583672 30-Nov-15 750 200/1 100 USD Fixed 1.750 100.00 101.00 0.04 AA /Aa2 /AA

IPIC XS0558268628 15-Nov-15 1000 250/1 100 USD Fixed 3.125 100.75 101.75 -0.10 AA /Aa2 /AA

IPIC XS0605558856 14-May-16 1250 100/1 100 EUR Fixed 4.875 104.25 105.25 -0.17 AA /Aa2 /AA

Diversified


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

IPIC XS0701035320 01-Mar-17 1500 200/1 100 USD Fixed 3.750 104.00 105.00 0.99 AA /Aa2 /AA

IPIC XS0860583912 30-May-18 800 100/1 100 EUR Fixed 2.375 105.38 106.38 0.29 AA /Aa2 /AA


IPIC XS0605559821 14-Mar-21 1250 100/1 100 EUR Fixed 5.875 127.88 129.38 0.74 AA /Aa2 /AA

IPIC XS0701035676 01-Mar-22 1500 200/1 100 USD Fixed 5.500 117.38 118.38 2.55 AA /Aa2 /AA

IPIC XS0860584308 30-May-23 850 100/1 100 EUR Fixed 3.625 119.00 120.00 1.03 AA /Aa2 /AA


Kuwait Projects Co XS0457137841 17-Oct-16 500 100/1 100 USD Fixed 8.875 108.75 110.25 1.75 BBB- /Baa3 /-

Kuwait Projects Co XS1026105806 05-Feb-19 500 200/1 100 USD Fixed 4.800 104.50 106.00 3.10 BBB- /Baa3 /-

Kuwait Projects Co XS0526235535 15-Jul-20 500 100/1 100 USD Fixed 9.375 125.88 128.88 3.29 BBB- /Baa3 /-

Mubadala XS0613313104 20-Apr-16 750 200/1 100 USD Fixed 3.750 102.38 103.38 0.27 AA /Aa2 /AA

Mubadala XS0426993571 06-May-19 500 250/1 100 USD Fixed 7.625 121.63 122.63 1.76 AA /Aa2 /AA



Mumtalakat XS0521476118 30-Jun-15 750 100/1 100 USD Fixed 5.000 99.75 101.25 -2.43 BBB- /- /BBB

Yasar Holdings XS1132450427 06-May-20 250 200/1 100 USD Fixed 8.875 103.50 106.00 7.29 - /B2 /B

Zagrebacki Holding Doo XS0309688918 10-Jul-17 300 50/50 100 EUR Fixed 5.500 94.63 96.13 7.46 B /Ba2 /-

Abu Dhabi Comm. Bk. (S) XS0708308845 22-Nov-16 500 200/1 100 USD Fixed 4.071 104.00 105.00 0.84 A /A1u /A+

Abu Dhabi Comm. Bk. XS0897453907 06-Mar-18 750 200/1 100 USD Fixed 2.500 100.50 102.00 1.78 A /A1u /A+

Abu Dhabi Comm. Bk. XS1040257062 04-Mar-19 750 200/1 100 USD Fixed 3.000 101.75 103.25 2.11 A /NR /A+

Abu Dhabi Comm. Bk. XS1110651012 16-Sep-19 600 200/1 100 USD Fixed 2.750 100.75 102.25 2.21 A /NR /A+

Adcb Finance Cayman Ltd XS1199968998 10-Mar-20 750 200/1 100 USD Fixed 2.625 100.13 101.63 2.27 A /- /A+

Abu Dhabi Comm. Bk. XS0897453493 06-Mar-23 750 200/1 100 USD Fixed 4.500 103.75 105.25 3.72 A- /NR /A

Abu Dhabi Comm. Bk. AU3CB0221414 28-May-19 250 10/10 100 AUD Fixed 4.750 101.75 103.25 3.88 A /- /A+

Abu Dhabi Islm. Bank (S) XS0556042405 04-Nov-15 750 100/1 100 USD Fixed 3.745 100.50 102.00 -0.16 - /A2 /A+

Abu Dhabi Islm. Bank (S) XS0711035286 30-Nov-16 500 200/1 100 USD Fixed 3.780 102.88 104.38 0.98 - /A2 /A+

Access Bank Plc XS0807677496 25-Jul-17 350 200/1 100 USD Fixed 7.250 98.13 100.13 7.18 B+ /- /B

Access Bank Plc XS1078208334 24-Jun-21 400 200/1 100 USD Variable 9.250 92.75 94.75 10.85 B+ /- /B-

ADIB Tier 1 (S) XS0851081660 Perpetual 1000 200/1 100 USD Variable 6.375 105.13 106.63 4.29 Not Rated

African Bank Limited XS0638008051 15-Jun-16 350 200/1 100 USD Flat Trading 6.000 63.63 83.63 26.11 - /Caa2 /-

African Bank Limited XS0751016865 24-Feb-17 350 200/1 100 USD Flat Trading 8.125 65.88 85.88 18.61 - /Caa2 /-

African Export-Import Ba XS0650262875 27-Jul-16 500 200/1 100 USD Fixed 5.750 102.88 104.88 1.76 NR /Baa2 /BBB-

Financial Institutions


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

African Export-Import Ba XS0938043766 04-Jun-18 500 200/1 100 USD Fixed 3.875 98.88 100.88 3.57 NR /Baa2 /BBB-

African Export-Import Ba XS1091688660 29-Jul-19 700 200/1 100 USD Fixed 4.750 101.38 103.38 3.88 - /Baa2 /BBB-

AK Lease XS0914394688 17-Apr-18 250 200/1 100 USD Fixed 4.125 96.88 98.88 4.53 - /- /BBB-

Akbank USM0300LAA46 22-Jul-15 1000 100/1 100 USD Fixed 5.125 99.38 101.38 -0.98 - /Baa3 /BBB-

Akbank USM0375YAJ75 24-Oct-17 500 150/1 100 USD Fixed 3.875 99.75 101.75 3.14 - /Baa3 /BBB-

Akbank USM0300LAC02 09-Mar-18 500 150/1 100 USD Fixed 6.500 106.00 108.00 3.53 - /Baa3 /BBB-

Akbank Tas XS1111101314 24-Jan-20 500 200/1 100 USD Fixed 4.000 96.25 98.25 4.41 - /Baa3 /BBB-

Akbank USM0375YAK49 24-Oct-22 500 150/1 100 USD Fixed 5.000 98.75 100.75 4.88 - /Baa3 /BBB-

Akbank XS1210422074 31-Mar-25 500 200/1 100 USD Fixed 5.125 97.25 98.75 5.29 - /Baa3 /BBB-

Albaraka Turk Katilim Ba (S) XS1082151868 30-Jun-19 350 200/1 100 USD Fixed 6.250 98.75 100.75 6.04 BB /- /-

Albaraka Turk Katilim (S) XS0927211754 07-May-23 200 200/1 100 USD Fixed 7.750 98.10 100.1 7.71 B /- /-

Al Hilal Bank (S) XS0977488294 08-Oct-18 500 200/1 100 USD Fixed 3.267 102.38 104.38 1.94 - /A1 /A+

Al Hilal Bank Tier 1 (S) XS1073217561 Perpetual 500 200/1 100 USD Variable 5.500 102.50 104.50 4.31 Not Rated

Alternatifbank As XS1089556358 22-Jul-19 250 200/1 100 USD Fixed 3.125 99.25 101.25 2.81 - /- /A+

Astra Sedaya Finance Pt XS1210971682 01-Apr-18 300 200/1 100 USD Fixed 2.875 99.00 100.50 2.70 - /Baa3 /BBB-

Axis Bank/Dubai XS0463466028 30-Sep-15 350 100/1 100 USD Fixed 5.250 99.88 101.88 0.72 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAA64 02-May-16 500 100/1 100 USD Fixed 4.750 101.25 103.25 1.47 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAB48 05-Sep-17 750 200/1 100 USD Fixed 5.125 105.75 107.25 1.95 BBB- /Baa3 /BBB-

Axis Bank/Dubai US05463EAC21 21-May-20 750 200/1 100 USD Fixed 3.250 100.13 102.13 2.80 BBB- /Baa3 /BBB-

Axis Bank/Singapore XS0308100667 28-Jun-22 60 100/1 100 USD Variable 7.125 102.25 104.75 4.78 - /Ba2 /-

Banco Daycoval Sa XS1046809171 19-Mar-19 500 150/1 100 USD Fixed 5.750 100.88 102.88 4.92 BB+ /Baa3 /BBB-

Banco Industr E Comrcl XS0552649021 25-Oct-15 400 100/1 100 USD Fixed 5.250 99.63 101.63 1.87 - /Baa3 /-

Bank Asya Tier 2 (S) XS0907295942 28-Mar-23 250 200/1 100 USD Variable 7.500 56.88 63.88 25.90 - /C /-

Bk Of Moscow (Kuznetski) XS0236336045 25-Nov-15 300 100/1 100 USD Variable 5.967 96.88 101.88 2.62 - /B1 /WD

Bank Muscat Saog XS0908549685 26-Mar-18 500 200/1 100 USD Fixed 2.500 99.50 101.50 1.97 A- /A1 /A-

Bank of Bahrain & Kuwait XS0553706135 28-Oct-15 500 100/1 100 USD Fixed 4.500 100.38 101.88 0.68 - /Baa3 /BBB

Bank Of Baroda/London XS0483734298 07-Oct-15 350 100/1 100 USD Fixed 4.750 100.25 101.75 0.72 - /Baa3 /BBB-

Bank Of Baroda/London XS0594008517 24-Aug-16 500 200/1 100 USD Fixed 5.000 103.00 104.50 1.53 - /Baa3 /BBB-

Bank Of Baroda/London USY04342AA28 23-Jul-19 1000 200/1 100 USD Fixed 4.875 107.25 108.75 2.67 - /Baa3 /BBB-

Bank Of Baroda/London XS0301888615 25-May-22 300 100/1 100 USD Variable 6.625 102.75 105.25 3.96 NR /Ba2 /B+

Bank Of Ceylon USY0646EAR37 03-May-17 500 200/1 100 USD Fixed 6.875 101.00 103.50 5.02 - /B1 /BB-

Bank Of Ceylon XS0914798268 16-Apr-18 500 200/1 100 USD Fixed 5.325 98.00 100.50 5.14 - /- /BB-

Bank Of China US06120TAA60 13-Nov-24 3000 200/1 100 USD Fixed 5.000 105.00 106.50 4.17 BBB+ /Baa3 /BBB+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Bank Of China XS1122780106 Perpetual 39940 2000/10 100 CNY Variable 6.750 105.00 107.00 4.96 BB- /Ba2 /-

Bank Of India London XS0498932721 30-Sep-15 750 100/1 100 USD Fixed 4.750 100.25 101.75 0.54 BBB- /Baa3 /-

Bank Of India London USY06865AA04 21-Sep-18 500 200/1 100 USD Fixed 3.625 101.38 103.88 2.42 BBB- /Baa3 /-

Bank Of India London XS0592238876 16-Feb-21 500 200/1 100 USD Fixed 6.250 113.88 115.88 3.22 BBB- /Baa3 /-

Bank Of India/Jersey XS0294208235 Perpetual 85 100/1 100 USD Variable 6.994 100.25 102.25 5.74 BB /B2 /-

Bank Saudi Fransi (S) XS0784910431 22-May-17 750 200/1 100 USD Fixed 2.947 101.50 103.50 1.22 A /- /A

Bawag P.S.K. XS0987169637 30-Oct-23 300 100/100 100 EUR Fixed 8.125 123.25 124.25 4.61 - /Ba2 /-

Banque Marocaine Du Comm XS0998123037 27-Nov-18 300 200/1 100 USD Fixed 6.250 104.25 105.25 4.64 - /Ba1 /-

Bbk XS1207170736 24-Mar-20 400 200/1 100 USD Fixed 3.500 98.88 99.88 3.53 - /Baa3 /BBB

Burgan Bank XS0545106592 29-Sep-20 400 100/1 100 USD Fixed 7.875 115.63 117.63 4.20 BBB /Ba1 /-

Burgan Tier 1 Financing XS1106874198 Perpetual 500 200/1 100 USD Variable 7.250 99.00 101.00 6.98 Not Rated

Canara Bank London XS0595649608 09-Sep-16 350 200/1 100 USD Fixed 5.125 101.75 104.75 1.58 - /Baa3 /BBB-

Cbq Finance Ltd XS1079720212 24-Jun-19 750 200/1 100 USD Fixed 2.875 101.75 102.75 2.18 A- /A1 /-

Charming Light Investmen XS1104029027 03-Sep-19 1100 200/1 100 USD Fixed 3.750 100.50 102.50 3.13 - /Baa1 /A-

China Overseas Finance XS0984184316 29-Oct-18 500 200/1 100 USD Fixed 3.375 100.25 102.25 2.70 BBB+ /Baa1 /BBB+

Citic Securities Fin Mtn XS1130968453 30-Oct-19 650 200/1 100 USD Fixed 3.500 100.38 101.88 3.05 BBB+ /Baa1 /-

Commercial Bank Of Dubai XS0933999863 21-May-18 500 200/1 100 USD Fixed 3.375 101.13 102.63 2.48 - /Baa1 /A-

Commercial Bank of Qatar XS0771860003 11-Apr-17 500 200/1 100 USD Fixed 3.375 102.50 104.50 1.03 A- /A1 /-

Commercial Bank of Qatar XS0466365383 18-Nov-19 600 100/1 100 USD Fixed 7.500 119.00 121.00 2.58 BBB+ /Baa1 /-

Credit Bank of Moscow XS0924078453 13-Nov-18 500 200/1 100 USD Fixed 8.700 84.13 87.13 13.38 - /NR /BB-

Credit Bank of Moscow XS0879105558 01-Feb-18 500 200/1 100 USD Fixed 7.700 97.38 100.38 7.54 BB- /B1 /BB

Diamond Bank Plc XS1069387923 21-May-19 200 200/1 100 USD Fixed 8.750 92.88 95.38 10.16 B /- /B

Doha Bank XS0757032445 14-Mar-17 500 200/1 100 USD Fixed 3.500 102.75 104.25 1.20 A- /A2 /A+

Dubai Islamic Bank (S) XS0787130540 30-May-17 500 200/1 100 USD Fixed 4.752 104.00 106.00 1.80 - /Baa1 /A

Dib Tier 1 Sukuk Ltd (S) XS0902330769 Perpetual 1000 200/1 100 USD Variable 6.250 102.00 104.00 5.10 Not Rated

Dib Tier 1 Sukuk 2 Ltd (S) XS1167284436 Perpetual 1000 200/1 100 USD Variable 6.750 102.00 104.00 5.91 Not Rated

Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 100.75 102.75 5.52 - /Ba1 /BB

Eastern & Southern Afric XS0998947500 06-Dec-18 300 200/1 100 USD Fixed 6.375 100.75 102.75 5.52 - /Ba1 /BB

Ebn Finance Co Bv XS1093771639 14-Aug-21 250 200/1 100 USD Variable 8.750 90.25 92.25 11.06 B- /- /-

Emirates Bank XS0272489187 31-Oct-16 83 100/1 100 USD FRN 1.479 93.38 98.38 2.56 NR /Baa3 /A

Emirates Bank XS0765257141 28-Mar-17 1000 200/1 100 USD Fixed 4.625 104.00 105.50 1.69 - /Baa1 /A+

Emirates Islamic Bank (S) XS0731642491 18-Jan-17 500 200/1 100 USD Fixed 4.718 103.75 105.25 1.60 - /Baa1 /A+

Emirates Islamic Bank (S) XS0803231827 11-Jan-18 500 200/1 100 USD Fixed 4.147 103.63 105.13 2.18 - /Baa1 /A+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Emirates Nbd Pjsc XS1138457590 19-Nov-19 1000 200/1 100 USD Fixed 3.250 101.38 102.88 2.58 - /Baa1 /A+

Emirates NBD XS0910935021 28-Mar-23 750 200/1 100 USD Variable 4.875 102.88 104.38 3.28 - /NR /A

Emirates NBD Tier 1 XS0935833292 Perpetual 1000 200/1 100 USD Variable 5.750 99.00 101.00 5.47 Not Rated

Emirates Nbd 2014 Tier 1 XS1111114135 Perpetual 500 200/1 100 USD Variable 6.375 101.88 103.88 5.53 Not Rated

Emirates Nbd Pjsc XS1207079499 23-Mar-22 550 100/1 100 EUR Fixed 1.750 97.25 98.75 1.95 - /Baa1 /A+

Emirates Nbd Pjsc AU3CB0220861 08-May-19 400 10/10 100 AUD Fixed 5.750 104.75 106.75 3.92 - /Baa1 /A+

Export Credit Bank Of Tu XS1028943089 23-Sep-21 500 200/1 100 USD Fixed 5.000 99.63 101.63 4.70 BB+ /Baa3 /BBB-

Export-Import Bk India XS0813393849 07-Aug-17 500 200/1 100 USD Fixed 4.000 102.88 104.88 1.79 BBB- /Baa3 /-

Export-Import Bk India XS1050464996 02-Oct-19 500 200/1 100 USD Fixed 3.875 103.88 105.88 2.46 BBB- /Baa3 /-

Export-Import Bk India XS1165130219 12-Aug-20 500 200/1 100 USD Fixed 2.750 98.25 100.25 2.70 BBB- /Baa3 /-

Export-Import Bk India XS0872917660 14-Jan-23 750 200/1 100 USD Fixed 4.000 102.88 104.38 3.35 BBB- /Baa3 /-

First Bank of Nigeria XS0957590689 07-Aug-20 300 200/1 100 USD Variable 8.250 93.88 96.88 9.37 B- /- /B-

First Bank of Nigeria XS1090370104 23-Jul-21 450 200/1 100 USD Variable 8.000 92.75 95.25 9.38 B- /- /B-

Fidelity Bank Plc XS0928527257 09-May-18 300 200/1 100 USD Fixed 6.875 90.25 92.75 9.70 B /- /B

Finansbank As XS0849733273 01-Nov-17 350 200/1 100 USD Fixed 5.150 99.50 102.50 4.09 - /Ba2 /BBB-

Finansbank As USM4R36CAA80 11-May-16 500 200/1 100 USD Fixed 5.500 99.50 102.50 3.01 - /Ba2 /BBB-

Finansbank As XS1063442484 30-Apr-19 500 200/1 100 USD Fixed 6.250 100.25 103.25 5.34 - /Ba2 /BBB-

First Gulf Bank XS0840538994 09-Oct-17 650 200/1 100 USD Fixed 2.862 102.13 103.13 1.55 - /A2 /A+

First Gulf Bank (S) XS0654587996 02-Aug-16 650 200/1 100 USD Fixed 3.797 102.38 103.88 0.69 - /A2 /A+

First Gulf Bank (S) XS0731930797 18-Jan-17 500 200/1 100 USD Fixed 4.046 103.50 105.00 1.10 - /A2 /A+

First Gulf Bank XS1193304596 24-Feb-20 750 200/1 100 USD Fixed 2.625 99.88 101.38 2.32 - /A2 /A+

Firstrand Bank Ltd XS0635404477 09-Jun-16 500 200/1 100 USD Fixed 4.375 102.13 103.63 1.07 BBB- /Baa2 /BBB

Gazprombk (Gpb Finance) XS0779213460 03-May-19 500 200/1 100 USD Fixed 7.250 94.38 98.38 7.73 BB- /B2 /BB

Gazprombk (Gpb Finance) XS1040726587 05-Sep-19 750 200/1 100 USD Fixed 4.960 89.13 93.13 6.81 BB+ /- /BB+

Gazprombk (Gpb Finance) XS0975320879 28-Dec-23 750 200/1 100 USD Variable 7.496 84.50 89.50 11.05 - /NR /B+

Gazprombk (Gpb Finance) XS0848137708 Perpetual 1000 200/1 100 USD Variable 7.875 81.25 84.25 14.56 - /NR /-

GIC Funding Ltd XS0859236092 28-Nov-17 500 200/1 100 USD Fixed 3.250 101.75 103.25 1.95 - /A2 /-

GIC Funding Ltd CH0198380237 16-Nov-15 300 5/5 100 CHF Fixed 2.750 100.50 102.00 -0.89 - /A2 /-

Guaranty Trust Bank XS0628652884 19-May-16 500 200/1 100 USD Fixed 7.500 101.25 103.25 4.31 B+ /- /B+

Guaranty Trust Bank XS0992162635 08-Nov-18 400 200/1 100 USD Fixed 6.000 95.50 97.50 6.81 B+ /- /B+

Gulf International Bank XS0863496633 11-Dec-17 500 200/1 100 USD Fixed 2.375 99.38 101.38 1.83 BBB+ /A3 /A

Haitong Intl Fin 2014 XS1107172535 11-Sep-19 600 200/1 100 USD Fixed 3.990 100.63 102.63 3.34 BBB /- /-

Haitong Intl Fin 2015 XS1170096454 29-Jul-20 700 200/1 100 USD Fixed 4.200 101.00 103.00 3.57 BBB /- /-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Hdfc Bank Ltd/Bah XS0897434949 06-Mar-18 500 200/1 100 USD Fixed 3.000 100.38 102.38 2.13 BBB- /Baa3 /-

Huarong Finance Co Ltd XS1086081707 17-Jul-17 300 200/1 100 USD Fixed 3.000 100.25 101.75 2.19 BBB+ /Baa1 /A

Huarong Finance Co Ltd XS1088292815 17-Jul-19 1200 200/1 100 USD Fixed 4.000 102.00 103.50 3.11 BBB+ /Baa1 /A

Icd Sukuk Co Ltd (S) XS1069869839 21-May-20 700 200/1 100 USD Fixed 3.508 99.13 101.13 3.26 Not Rated

Icd Funding Ltd XS1069870415 21-May-24 300 200/1 100 USD Fixed 4.625 99.88 101.88 4.37 Not Rated

Icici Bank Ltd/Dubai US45112FAC05 21-Feb-18 1000 200/1 100 USD Fixed 4.700 105.13 106.63 2.25 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAE60 22-May-19 1000 200/1 100 USD Fixed 4.800 106.75 108.25 2.64 BBB- /Baa3 /BBB-

Icici Bank Ltd/Dubai US45112FAG19 18-Mar-20 700 200/1 100 USD Fixed 3.500 102.38 103.88 2.65 BBB- /Baa3 /BBB-

IDBI Bank XS0832492267 26-Mar-18 500 200/1 100 USD Fixed 4.375 102.63 104.13 2.88 BB+ /Baa3 /BBB-

IDBI Bank XS0908349912 25-Jan-19 500 200/1 100 USD Fixed 3.750 100.00 101.50 3.32 BB+ /Baa3 /BBB-

IDBI Bank XS1048474396 25-Sep-19 300 200/1 100 USD Fixed 5.000 104.75 106.25 3.46 BB+ /Baa3 /BBB-

IDBI Bank XS1128264758 23-Apr-20 350 200/1 100 USD Fixed 4.125 101.13 102.63 3.54 BB+ /Baa3 /BBB-

Indian Overseas Bank/Hk XS0615783239 19-Oct-16 500 200/1 100 USD Fixed 5.000 103.00 104.00 2.22 BB+ /(P)Ba1 /-

Indian Overseas Bank/Hk XS0773015853 21-Feb-18 500 200/1 100 USD Fixed 4.625 102.88 104.38 2.99 BB+ /Ba1 /-

Int. Bank of Azerbaijan XS1076436218 11-Jun-19 500 200/1 100 USD Fixed 5.625 95.13 97.13 6.43 - /Ba3 /BB

Investcorp Sa XS0847495248 01-Nov-17 250 200/1 100 USD Fixed 8.250 106.00 108.50 4.61 - /Ba2 /BB

Investec Bank Ltd XS0807715098 24-Jul-17 300 200/1 100 USD Fixed 3.875 101.13 103.13 2.43 - /Baa2 /BBB-

Itau Unibanco Hldg Sa/Ky US46556MAB81 22-Jan-21 1250 100/1 100 USD Fixed 5.750 105.00 106.50 4.45 - /Baa3 /BBB-

Korea Exchange Bank XS1120608713 14-Oct-24 300 200/1 100 USD Fixed 4.250 105.00 107.00 3.38 BBB /Baa2 /BBB

Kuveyt Turk (S) XS0698260758 31-Oct-16 350 200/1 100 USD Fixed 5.875 103.75 105.25 2.29 - /- /BBB

Kuveyt Turk (S) XS1079236169 26-Jun-19 500 200/1 100 USD Fixed 5.162 103.00 104.50 3.98 - /- /BBB

Mashreqbank XS0283928264 24-Jan-17 354 100/100 100 USD FRN 1.402 93.75 97.75 2.71 BBB /Ba2 /A-

Mubadala Ge Capital Ltd US62476BAA89 10-Nov-19 500 200/1 100 USD Fixed 3.000 98.88 100.88 2.79 - /Baa2 /A

National Bank of Egypt XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 96.63 101.63 -0.90 - /B3 /B

National Bk Of Abu Dhabi XS0763531406 27-Mar-17 750 200/1 100 USD Fixed 3.250 103.13 104.13 1.06 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0206068 07-Mar-18 300 10/10 100 AUD Fixed 5.000 103.63 104.63 3.28 AA- /Aa3 /AA-

National Bk Of Abu Dhabi AU3CB0219392 19-Mar-19 400 10/10 100 AUD Fixed 4.750 103.38 104.38 3.53 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS0815939656 13-Aug-19 750 200/1 100 USD Fixed 3.000 103.13 104.13 1.99 AA- /Aa3 /AA-

National Bk Of Abu Dhabi XS1186986904 11-Feb-20 750 200/1 100 USD Fixed 2.250 100.13 101.13 2.00 AA- /Aa3 /AA-

National Bank of Kuwait Tier 1 XS1206972348 Perpetual 700 200/1 100 USD Variable 5.750 100.50 102.00 5.35 - /Baa3 /-

National Savings Bank USY62526AA99 18-Sep-18 750 200/1 100 USD Fixed 8.875 107.25 109.25 5.82 B+ /- /BB-

Nile Finance Ltd XS0531270378 05-Aug-15 600 100/1 100 USD Fixed 5.250 99.50 101.50 -0.42 - /B3 /B

Qatar Islamic Bank (S) XS0545395765 07-Oct-15 750 100/1 100 USD Fixed 3.856 100.75 101.75 -0.15 - /- /A+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Qatar Islamic Bank (S) XS0841096497 10-Oct-17 750 200/1 100 USD Fixed 2.500 101.38 102.88 1.30 - /- /A+

Qatar National Bank XS0559355135 16-Nov-15 1500 200/1 100 USD Fixed 3.125 100.75 101.75 -0.09 A+ /Aa3 /AA-

Qatar National Bank XS0748305017 22-Feb-17 1000 200/1 100 USD Fixed 3.375 102.63 104.13 1.07 A+ /Aa3 /AA-

Qatar National Bank XS0854469599 14-Feb-18 1000 200/1 100 USD Fixed 2.125 99.88 101.38 1.62 A+ /Aa3 /AA-

QIIB Sukuk Funding Ltd (S) XS0843912808 18-Oct-17 700 200/1 100 USD Fixed 2.688 101.88 102.88 1.49 - /A3 /A+

Rakfunding Cayman Ltd XS1078355986 24-Jun-19 800 200/1 100 USD Fixed 3.250 100.38 101.88 2.77 - /Baa1 /BBB+

Russian Agricultural Bank XS0796426228 27-Dec-17 1300 200/1 100 USD Fixed 5.298 94.75 96.75 6.65 - /Ba2 /BB+

Russian Agricultural Bank XS0955232854 25-Jul-18 1300 200/1 100 USD Fixed 5.100 92.63 95.13 6.80 - /Ba2 /BB+

Saudi British Bank XS0559277743 12-Nov-15 600 100/100 100 USD Fixed 3.000 101.00 102.00 -0.74 A /- /A

Sberbank (Sb Cap Sa) XS0799357354 28-Jun-19 1000 200/1 100 USD Fixed 5.180 95.13 97.13 5.97 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0897427570 04-Mar-18 550 300/1 100 TRY Fixed 7.400 84.88 86.88 13.06 - /Ba1 /BBB-

Sberbank (Sb Cap Sa) XS0848530977 29-Oct-22 2000 200/1 100 USD Fixed 5.125 83.63 85.63 7.68 - /Ba2 /BB+

Sberbank (Sb Cap Sa) XS0935311240 23-May-23 1000 200/1 100 USD Fixed 5.250 81.50 83.50 8.07 - /- /BB+

Sberbank (Sb Cap Sa) XS1032750165 26-Feb-24 1000 200/1 100 USD Variable 5.500 81.88 83.88 10.75 - /- /BB+

SIB Sukuk Co. Ltd (S) XS0625554836 25-May-16 400 200/1 100 USD Fixed 4.715 103.25 104.25 0.72 BBB+ /- /BBB+

SIB Sukuk Co. Ltd (S) XS0916902769 16-Apr-18 500 200/1 100 USD Fixed 2.950 101.25 102.25 2.16 BBB+ /- /BBB+

State Bank India/London USU85528AB04 01-Aug-17 1250 200/1 100 USD Fixed 4.125 103.50 105.00 1.85 BBB- /Baa3 /BBB-

State Bank India/London USY81636AC94 18-Apr-18 1000 200/1 100 USD Fixed 3.250 101.38 102.88 2.24 BBB- /Baa3 /BBB-

State Bank India/London USY81647AA02 17-Apr-19 750 200/1 100 USD Fixed 3.622 103.00 104.50 2.42 BBB- /Baa3 /BBB-

State Bank India/London USY81647AB84 17-Apr-24 500 200/1 100 USD Fixed 4.875 108.75 110.25 3.53 BBB- /Baa3 /BBB-

State Bank Of India XS0287244627 Perpetual 400 100/1 100 USD Variable 6.439 101.63 104.63 4.05 BB /B1 /B

State Bank Of India XS0307996586 Perpetual 225 100/1 100 USD Variable 7.140 102.50 105.50 4.44 BB /B1 /-

Syndicate Bank/London XS0620328392 06-Nov-16 500 200/1 100 USD Fixed 4.750 101.50 104.50 1.73 BBB- /Baa3 /-

Syndicate Bank XS0841358103 12-Apr-18 500 200/1 100 USD Fixed 4.125 102.63 104.13 2.66 BBB- /Baa3 /-

Tamweel (S) XS0734046815 18-Jan-17 300 200/1 100 USD Fixed 5.154 103.75 105.75 1.74 - /Baa1 /A

Tc Ziraat Bankasi As XS1083936028 03-Jul-19 750 200/1 100 USD Fixed 4.250 98.25 100.25 4.18 - /Baa3 /BBB-

Turkiye Finans Varlik Kiralama (S) XS0922143382 02-May-18 500 200/1 100 USD Fixed 3.950 98.75 100.75 3.68 - /- /BBB

Turkiye Finans Varlik Kiralama (S) XS1057852912 24-Apr-19 500 200/1 100 USD Fixed 5.375 102.38 104.38 4.17 - /- /BBB

Turkiye Garanti Bankasi USM8931TAE93 13-Sep-17 600 200/1 100 USD Fixed 4.000 100.38 102.38 2.95 - /Baa3 /BBB-

Turkiye Garanti Bankasi XS1057541838 17-Oct-19 750 200/1 100 USD Fixed 4.750 99.75 101.75 4.31 - /Baa3 /BBB-

Turkiye Garanti Bankasi USM8931TAF68 13-Sep-22 750 200/1 100 USD Fixed 5.250 100.25 102.25 4.88 - /Baa3 /BBB-

Turkiye Garanti Bankasi XS0935802495 23-May-18 175 200/1 100 AUD Fixed 5.500 100.00 102.00 4.78 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0806482948 19-Jul-17 750 200/1 100 USD Fixed 4.875 101.50 103.50 3.23 - /Baa3 /BBB-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Turkiye Halk Bankasi As XS1069383856 04-Jun-19 500 200/1 100 USD Fixed 4.750 99.13 101.13 4.44 - /Baa3 /BBB-

Turkiye Halk Bankasi XS0882347072 05-Feb-20 750 200/1 100 USD Fixed 3.875 94.63 96.63 4.67 - /Baa3 /BBB-

Turkiye Halk Bankasi As XS1188073081 11-Feb-21 500 200/1 100 USD Fixed 4.750 97.38 99.38 4.87 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0852697712 07-Nov-17 500 200/1 100 USD Fixed 3.875 99.38 101.88 3.09 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0982644774 21-Apr-19 500 200/1 100 USD Fixed 5.500 102.00 104.50 4.26 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS1079527211 25-Jun-21 750 200/1 100 USD Fixed 5.000 98.63 100.63 4.88 - /Baa3 /BBB-

Turkiye Is Bankasi A.S XS0847042024 24-Oct-22 1000 200/1 100 USD Fixed 6.000 97.63 100.13 5.98 - /Ba2 /BB+

Turkiye Is Bankasi A.S XS0808632250 10-Oct-18 750 200/1 100 USD Fixed 3.750 98.38 99.38 3.94 - /Baa3 /BBB-

Turkiye Sinai Kalkinma B XS1117601796 30-Oct-19 350 200/1 100 USD Fixed 5.375 100.50 102.50 4.75 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0916347759 15-Apr-18 600 200/1 100 USD Fixed 3.750 97.25 99.25 4.02 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0987355939 31-Oct-18 500 200/1 100 USD Fixed 5.000 100.50 102.50 4.22 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS1077629225 17-Jun-19 500 100/1 100 EUR Fixed 3.500 99.75 101.75 3.04 - /Baa3 /BBB-

Turkiye Vakiflar Bankasi XS0849728190 01-Nov-22 900 200/1 100 USD Fixed 6.000 97.13 99.13 6.15 - /Ba2 /BB+

Turkiye Vakiflar Bankasi XS1175854923 03-Feb-25 500 200/1 100 USD Variable 6.875 97.75 99.75 6.93 - /Ba3 /BB+

Union Bank Of India Hk XS0819566182 22-Aug-17 350 200/1 100 USD Fixed 4.625 103.88 105.38 2.22 BBB- /Baa3 /-

Union Bank Of India Hk XS0923436264 25-Oct-18 350 200/1 100 USD Fixed 3.625 102.13 103.63 2.53 BBB- /Baa3 /-

Union Bank Of India Hk XS1062051161 28-Oct-19 350 200/1 100 USD Fixed 4.500 105.88 107.38 2.74 BBB- /Baa3 /-

Vnesheconombank(Veb) XS0524610812 09-Jul-20 1600 100/1 100 USD Fixed 6.902 93.88 96.88 7.64 BB+ /- /BBB-

VTB Bank XS0592794597 22-Feb-18 698 200/1 100 USD Fixed 6.315 97.38 100.38 6.16 BB+ /Ba1 /WD

VTB Bank XS0772509484 12-Apr-17 2000 200/1 100 USD Fixed 6.000 96.88 99.88 6.06 - /Ba1 /WD

VTB Bank XS0842078536 17-Oct-22 1500 200/1 100 USD Fixed 6.950 90.13 93.13 8.20 BB- /Ba3 /WD

Yapi Ve Kredi Bankasi As XS0994815016 03-Dec-18 500 200/1 100 USD Fixed 5.250 101.63 103.13 4.30 - /Baa3 /BBB

Yapi Ve Kredi Bankasi As XS1028938915 22-Oct-19 550 200/1 100 USD Fixed 5.125 100.50 102.00 4.63 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0874840688 22-Jan-20 500 200/1 100 USD Fixed 4.000 95.63 97.13 4.68 - /Baa3 /BBB

Yapi Ve Kredi Bankasi XS0861979440 06-Dec-22 1000 200/1 100 USD Fixed 5.500 95.63 97.13 5.97 - /Ba2 /BBB-

Zenith Bank Plc XS1057929645 22-Apr-19 500 200/1 100 USD Fixed 6.250 95.75 97.75 6.91 B+ /- /B+

Aldar Sukuk (S) XS0993959583 03-Dec-18 750 200/1 100 USD Fixed 4.348 105.38 106.88 2.34 BBB- /Baa3 /-

China Os Grand Ocean Fin XS0996662853 23-Jan-19 400 200/1 100 USD Fixed 5.125 102.13 103.63 4.06 BBB- /Baa2 /BBB

Coca-Cola Icecek Uretim XS0975576165 01-Oct-18 500 200/1 100 USD Fixed 4.750 105.13 106.63 2.71 - /Baa3 /BBB

Country Garden Hldg Co USG24524AJ24 27-May-19 550 200/1 100 USD Fixed 7.875 105.50 107.50 5.77 BB+ /Ba2 /BB+

Country Garden Hldg Co USG24524AH67 04-Apr-21 750 200/1 100 USD Fixed 7.250 101.50 104.00 6.20 BB+ /Ba2 /-

Country Garden Hldg Co USG24524AG84 10-Jan-23 750 200/1 100 USD Fixed 7.500 101.38 103.38 6.77 BB+ /Ba2 /-

Real Estate / Tourism


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Damac (S) XS1054932154 09-Apr-19 650 200/1 100 USD Fixed 4.970 94.00 95.50 6.28 BB /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0997146203 25-Nov-16 300 200/1 100 USD Fixed 5.750 99.38 101.38 4.82 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS0937237831 24-May-18 450 200/1 100 USD Fixed 5.750 99.38 101.38 5.26 B+ /- /-

Dar Al-Arkan Sukuk Co Lt (S) XS1072498006 28-May-19 400 200/1 100 USD Fixed 6.500 99.50 101.50 6.08 B+ /- /-

Delhi International Airp XS1165980274 03-Feb-22 289 200/1 100 USD Fixed 6.125 103.88 105.88 5.08 BB /Ba1 /-

Difc Sukuk (S) XS1120403313 12-Nov-24 700 200/1 100 USD Fixed 4.325 101.13 102.63 3.99 BBB- /- /-

Dip Sukuk Ltd (S) XS1035007530 20-Feb-19 300 200/1 100 USD Fixed 4.291 100.88 102.88 3.48 BB+ /- /-

Edcon Ltd XS0596919026 01-Mar-18 250 150/1 100 USD Fixed 9.500 78.75 81.75 17.98 B- /Caa1 /-

Edcon Ltd XS0888936118 01-Mar-18 300 100/1 100 EUR Fixed 9.500 79.50 82.50 17.59 B- /Caa1 /-

Edcon Ltd XS0596918135 01-Mar-18 317 100/1 100 EUR Fixed 9.500 79.50 82.50 17.59 B- /Caa1 /-

Edcon Holdings Ltd XS0982713173 30-Jun-19 425 100/1 100 EUR Fixed 13.375 20.13 25.13 70.85 CCC- /Caa3 /-

Emaar (S) XS0586840588 03-Aug-16 500 200/1 100 USD Fixed 8.500 107.38 109.38 0.98 BBB- /Ba1 /-

Emaar (S) XS0805885349 18-Jul-19 500 200/1 100 USD Fixed 6.400 112.50 114.50 2.73 BBB- /Ba1 /-

Emaar Mall Group Sukuk (S) XS1075401726 18-Jun-24 750 200/1 100 USD Fixed 4.564 105.13 106.63 3.70 BBB- /Baa2 /-

FlyDubai (S) XS1137967409 26-Nov-19 500 200/1 100 USD Fixed 3.776 100.63 102.13 3.27 Not Rated

Franshion Brilliant Ltd XS1038803190 19-Mar-19 500 200/1 100 USD Fixed 5.750 105.75 107.75 3.59 BBB- /Baa3 /BBB-

Greenland Glb Invst XS1122384685 17-Oct-17 500 200/1 100 USD Fixed 3.500 99.63 101.63 2.81 BBB /Baa3 /BBB-

Indiabulls - Century Ltd XS1118059200 12-Nov-19 175 200/1 100 USD Fixed 10.250 91.88 94.38 11.89 B+ /B1 /B+

Jafz Sukuk Ltd (S) XS0794821453 19-Jun-19 650 200/1 100 USD Fixed 7.000 113.75 115.75 2.93 - /Ba1 /BB-

King Power Capital Ltd XS1125289626 03-Nov-19 300 200/1 100 USD Fixed 3.875 102.13 104.13 2.89 BBB /Baa3 /-

King Power Capital Ltd XS1125272143 03-Nov-24 700 200/1 100 USD Fixed 5.625 107.25 109.25 4.42 BBB /Baa3 /-

Lodha Developers Intl Lt XS1148395582 13-Mar-20 200 200/1 100 USD Fixed 12.000 98.00 100.00 11.99 - /Ba3 /B+

Maf Global Securities XS0800825845 05-Jul-19 500 200/1 100 USD Fixed 5.250 108.63 110.63 2.55 BBB /- /BBB

Maf (S) XS0742399198 07-Feb-17 400 200/1 100 USD Fixed 5.850 106.00 108.00 1.26 BBB /- /BBB

Maf Global Securities XS1064799841 07-May-24 500 200/1 100 USD Fixed 4.750 105.38 106.88 3.84 BBB /- /BBB

Maf Global Securities XS0939678792 Perpetual 500 200/1 100 USD Variable 7.125 106.75 108.75 4.40 BB+ /- /BB+

Marfrig Holding Europe B USN54468AC22 20-Sep-21 51 200/1 100 USD Fixed 11.250 99.25 101.75 10.73 B+ /B2 /B+

Nakheel Sukuk (S) XS0624017371 25-Aug-16 4390 500/10 100 AED Fixed 10.000 107.25 109.25 2.81 Not Rated

Qatari Diar XS0527351570 21-Jul-15 1000 100/1 100 USD Fixed 3.500 99.63 101.13 -1.49 AA /Aa2 /-

Qatari Diar XS0527351653 21-Jul-20 2500 100/1 100 USD Fixed 5.000 112.50 114.00 2.15 AA /Aa2 /-

Shimao Ppty Hldng Ltd XS0872804207 14-Jan-20 800 200/1 100 USD Fixed 6.625 99.25 101.25 6.24 BB- /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1013209017 22-Jan-21 600 200/1 100 USD Fixed 8.125 102.63 104.63 6.95 BB- /Ba3 /BB+

Shimao Ppty Hldng Ltd XS1157365070 10-Feb-22 1100 200/1 100 USD Fixed 8.375 102.50 104.50 7.40 BB- /Ba3 /BB+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Sino Ocean Lnd Trs Fin I XS1089807025 30-Jul-19 500 200/1 100 USD Fixed 4.625 101.50 103.50 3.73 BBB- /Baa3 /BBB-

Sino Ocean Lnd Trs Fin I XS1090864528 30-Jul-24 700 200/1 100 USD Fixed 6.000 103.88 105.88 5.19 BBB- /Baa3 /BBB-

Sunac China Holdings Ltd XS0909370651 05-Apr-18 500 200/1 100 USD Fixed 9.375 101.50 103.00 8.20 B+ /B2 /BB-

Vrg Linhas Aereas Sa USP98079AB59 12-Feb-23 35 200/1 100 USD Fixed 10.750 88.38 90.38 12.73 B /- /B-

Xinyuan Real Estate XS0998964935 06-Jun-19 200 200/1 100 USD Fixed 13.000 85.63 88.63 16.94 B- /- /B+

Bahrain Telecom. XS0927183441 01-May-20 519 200/1 100 USD Fixed 4.250 99.75 101.25 3.97 BB+ /- /BBB-

Banglalink Digital Comm USY0629LAA53 06-May-19 300 200/1 100 USD Fixed 8.625 103.63 105.63 6.99 B+ /B1 /-

Bharti Airtel Internatio XS1028954953 20-May-21 750 100/1 100 EUR Fixed 3.375 107.75 109.25 1.75 BBB- /Baa3 /BBB-

Bharti Airtel USN1384FAA32 11-Mar-23 1500 200/1 100 USD Fixed 5.125 109.00 110.50 3.58 BBB- /Baa3 /BBB-

Bharti Airtel Internatio USN1384FAB15 20-May-24 1000 200/1 100 USD Fixed 5.350 110.88 112.38 3.73 BBB- /Baa3 /BBB-

Etisalat XS1077881743 18-Jun-19 500 200/1 100 USD Fixed 2.375 101.25 102.25 1.81 AA- /Aa3 /A+

Etisalat XS1077883012 18-Jun-24 500 200/1 100 USD Fixed 3.500 106.13 107.13 2.62 AA- /Aa3 /A+

Etisalat XS1077882121 18-Jun-21 1200 100/1 100 EUR Fixed 1.750 105.25 106.25 0.71 AA- /Aa3 /A+

Etisalat XS1077882394 18-Jun-26 1200 100/1 100 EUR Fixed 2.750 112.88 113.88 1.40 AA- /Aa3 /A+

Helios Towers Finance Nl XS1081230879 15-Jul-19 250 200/1 100 USD Fixed 8.375 90.38 92.88 10.50 B /- /B

Mtn Mauritius Invstments XS1128996425 11-Nov-24 750 200/1 100 USD Fixed 4.755 101.63 103.63 4.29 BBB /Baa2 /-

MTS International XS0921331509 30-May-23 500 200/1 100 USD Fixed 5.000 88.25 91.25 6.40 BB+ /Ba1 /BB+

Qatar Telecom XS0549116290 14-Oct-16 1000 200/1 100 USD Fixed 3.375 102.25 103.25 1.12 A- /A2 /A+

Qatar Telecom XS0432791571 10-Jun-19 600 100/1 100 USD Fixed 7.875 121.88 123.38 1.93 A- /A2 /A+

Qatar Telecom XS0549116530 16-Feb-21 1000 200/1 100 USD Fixed 4.750 109.38 111.38 2.62 A- /A2 /A+

Qatar Telecom XS0866438475 21-Feb-23 1000 200/1 100 USD Fixed 3.250 98.63 101.13 3.09 A- /A2 /A+

Qatar Telecom XS0551307100 19-Oct-25 750 200/1 100 USD Fixed 5.000 110.50 113.00 3.51 A- /A2 /A+

Qatar Telecom XS0880134258 31-Jan-28 500 200/1 100 USD Fixed 3.875 98.00 100.50 3.82 A- /A2 /A+

Qatar Telecom XS0881740384 31-Jan-43 500 200/1 100 USD Fixed 4.500 102.13 104.63 4.22 A- /A2 /A+

Millicom Intl Cellular XS1204091588 15-Mar-25 500 200/1 100 USD Fixed 6.000 100.88 102.88 5.54 - /Ba2 /BB+

Naspers USN5946FAA59 28-Jul-17 700 100/1 100 USD Fixed 6.375 106.88 108.88 2.29 - /Baa3 /BB+

Naspers USN5946FAB33 18-Jul-20 1000 200/1 100 USD Fixed 6.000 110.25 112.25 3.41 - /Baa3 /BB+

Rolta LLC USU77587AA83 16-May-18 127 200/1 100 USD Fixed 10.750 87.00 90.00 14.96 BB- /- /BB-

Rolta Americas Llc USU77583AA79 24-Jul-19 373 200/1 100 USD Fixed 8.875 82.00 85.00 13.65 BB- /- /BB-

Tbg Global Pte Ltd XS1165340883 10-Feb-22 350 200/1 100 USD Fixed 5.250 99.13 101.13 5.02 BB /- /BB

Telecom Italia Spa XS0195160329 24-Jun-19 850 50/50 100 GBP Fixed 6.375 110.50 112.00 3.24 BB+ /Ba1 /BBB-

Telemar Norte Leste Sa USP9037HAL70 23-Oct-20 1787 100/1 100 USD Fixed 5.500 90.13 92.13 7.27 BB+ /Ba1 /BB+

Telecommunications / IT


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Turk Telekomunikasyon As XS1028952155 19-Jun-19 500 200/1 100 USD Fixed 3.750 98.50 100.50 3.62 BBB- /- /BBB-

Turk Telekomunikasyon As XS1028951264 19-Jun-24 500 200/1 100 USD Fixed 4.875 99.25 101.25 4.70 BBB- /- /BBB-

Oi Sa USP18445AG42 10-Feb-22 1500 200/1 100 USD Fixed 5.750 83.75 85.75 8.56 BB+ /Ba2 /BB+

Vimpelcom Holdings XS0889401054 13-Feb-19 571 200/1 100 USD Fixed 5.200 91.63 94.63 6.83 BB /Ba3 /-

Vimpelcom Holdings Bv XS0889401724 13-Feb-23 983 200/1 100 USD Fixed 5.950 90.50 92.50 7.22 BB /Ba3 /-

Ajecorp Bv USN01766AA73 14-May-22 450 150/1 100 USD Fixed 6.500 69.00 71.00 12.89 BB /- /BB

Afren Plc USG01283AD52 01-Feb-16 253 200/1 100 USD Defaulted 11.500 43.88 46.38 146.47 D /- /C

Afren Plc USG01283AF01 08-Apr-19 250 200/1 100 USD Flat Trading 10.250 42.88 45.38 38.68 CC /- /C

Afren Plc USG01283AG83 09-Dec-20 360 200/1 100 USD Fixed 6.625 42.88 45.38 25.41 CC /- /C

Anglogold Holdings Plc US03512TAD37 30-Jul-20 1250 1/1 100 USD Fixed 8.500 109.13 111.13 4.27 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAA97 15-Apr-20 700 1/1 100 USD Fixed 5.375 99.75 101.75 4.97 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAC53 01-Aug-22 750 1/1 100 USD Fixed 5.125 95.50 97.50 5.55 BB+ /Baa3 /-

Anglogold Holdings Plc US03512TAB70 15-Apr-40 300 1/1 100 USD Fixed 6.500 93.88 95.88 6.85 BB+ /Baa3 /-

Bharat Petroleum (BPCL) XS0848436365 25-Oct-22 500 200/1 100 USD Fixed 4.625 104.00 107.00 3.55 - /Baa3 /BBB-

China Automation Group XS0615048260 20-Apr-16 192 200/1 100 USD Fixed 7.750 99.13 101.13 6.53 BB- /B1 /-

China Construct Bk Asia XS1100009874 20-Aug-24 750 200/1 100 USD Variable 4.250 101.75 103.75 3.31 - /Baa1 /A-

China Hongqiao Group XS1081333921 26-Jun-17 400 200/1 100 USD Fixed 7.625 100.38 102.38 6.42 BB /- /BB

China Hongqiao Group XS1132125946 03-May-18 300 200/1 100 USD Fixed 6.875 98.50 100.50 6.69 BB /- /BB

Chinalco Finance XS1150454822 11-Dec-19 500 200/1 100 USD Fixed 3.625 102.38 103.88 2.72 - /A1 /-

China Oil And Gas Group USG2115XAA66 25-Apr-18 350 200/1 100 USD Fixed 5.250 99.50 101.50 4.70 BB+ /Ba1 /-

China Oil And Gas Group XS1132375897 07-May-20 300 200/1 100 USD Fixed 5.000 96.75 98.75 5.29 BB+ /Ba1 /-

Cnpc General Capital Ltd XS1143051115 25-Nov-17 300 200/1 100 USD FRN 1.157 98.50 100.50 0.98 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143073788 25-Nov-17 500 200/1 100 USD Fixed 1.950 98.63 100.63 1.70 AA- /Aa3 /A+

Cnpc General Capital Ltd XS1143081963 25-Nov-19 700 200/1 100 USD Fixed 2.700 99.38 101.38 2.38 AA- /Aa3 /A+

Cimento Tupi Sa USP9159EAA03 11-May-18 185 2/1 100 USD Fixed 9.750 30.50 33.50 59.70 CCC /- /CCC

Cimpor Financial Opertns USN20137AD23 17-Jul-24 750 200/1 100 USD Fixed 5.750 88.88 90.88 7.11 BB- /- /BB

Citic Ltd XS0758793342 21-Jan-18 1100 200/1 100 USD Fixed 6.875 109.63 111.63 2.44 BBB+ /A3 /-

Citic Ltd XS0912154381 10-Apr-20 500 200/1 100 USD Fixed 6.375 112.88 114.88 3.10 BBB+ /A3 /-

Cliffs Natural Resources US18683KAA97 15-Mar-20 327 2/1 100 USD Fixed 5.900 52.88 57.88 19.74 CCC+ /B3 /-

Cnpc General Capital Ltd USG22004AF54 14-May-17 750 200/1 100 USD FRN 1.157 98.50 100.50 0.94 A+ /A1 /A+

Cnpc General Capital Ltd USG22004AG38 14-May-19 750 200/1 100 USD Fixed 2.750 99.38 101.38 2.39 A+ /A1 /A+

Colbun Sa USP2867KAE66 10-Jul-24 500 200/1 100 USD Fixed 4.500 102.88 104.88 3.85 BBB- /- /BBB

Industrials / Energy


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Dana Gas (C) (S) XS0914266415 31-Oct-17 364 45/0.01 100 USD Fixed 7.000 75.50 82.50 15.59 Not Rated

Dana Gas (S) XS0914266845 31-Oct-17 425 45/0.01 100 USD Fixed 9.000 78.38 82.38 17.90 Not Rated

DEWA XS0504040725 22-Apr-15 0 100/1 100 USD Fixed 8.500 99.38 100.38 -- - /WR /WD

DEWA XS0551313926 21-Oct-16 500 100/1 100 USD Fixed 6.375 105.75 107.75 1.07 - /Baa2 /WD

DEWA XS0551313686 21-Oct-20 1500 100/1 100 USD Fixed 7.375 121.63 123.63 2.70 - /Baa2 /WD

DEWA (S) XS0897680558 05-Mar-18 1000 200/1 100 USD Fixed 3.000 101.00 103.00 1.91 BBB /- /-

Dolphin Energy Ltd USM28368AA21 15-Jun-19 714 100/1 100 USD Fixed 5.888 108.88 110.38 3.18 - /A1 /A+

Dolphin Energy Ltd USM28368AB04 15-Dec-21 1300 200/1 100 USD Fixed 5.500 115.13 116.63 2.74 - /A1 /A+

Doric Nimrod Air 2012-1A US258258AA01 30-Nov-22 379 200/1 100 USD Fixed 5.125 104.50 106.00 4.19 - /A3 /-

Dp World Ltd (C) XS1078764302 19-Jun-24 1000 200/200 100 USD Fixed 1.750 111.00 112.50 0.36 - /Baa3 /BBB-

DP World XS0308427581 02-Jul-37 1750 100/10 100 USD Fixed 6.850 113.13 114.63 5.68 NR /Baa3 /BBB-

DP World (S) XS0307408152 02-Jul-17 1500 100/10 100 USD Fixed 6.250 107.38 108.88 2.05 NR /Baa3 /BBB-

Emirates Airlines XS0632833553 08-Jun-16 1000 200/1 100 USD Fixed 5.125 102.75 104.25 1.24 Not Rated

Emirates Airlines (S) XS0904232310 19-Mar-23 758 200/1 100 USD Fixed 3.875 101.75 103.25 3.40 Not Rated

Emirates Airlines XS0885065887 06-Feb-25 714 200/1 100 USD Fixed 4.500 100.25 101.75 4.28 Not Rated

Emirates Airlines (S) XS1203164782 31-Mar-25 913 200/1 100 USD Fixed 2.471 100.13 101.63 2.29 Not Rated

Eskom Holdings Soc Ltd XS0579851949 26-Jan-21 1750 200/1 100 USD Fixed 5.750 99.25 101.25 5.49 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS0958072240 06-Aug-23 1000 200/1 100 USD Fixed 6.750 103.50 105.50 5.90 BB+ /Ba1 /-

Eskom Holdings Soc Ltd XS1187065443 11-Feb-25 1250 200/1 100 USD Fixed 7.125 104.50 106.50 6.23 BB+ /Ba1 /-

Exim Sukuk Malaysia (S) XS0981802738 19-Feb-19 300 200/1 100 USD Fixed 2.874 100.13 102.13 2.29 - /A3 /A-

Fibria Overseas Finance US31572UAE64 12-May-24 600 2/1 100 USD Fixed 5.250 101.75 103.75 4.73 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0276455937 22-Mar-17 500 50/1 100 EUR Fixed 5.136 101.00 102.50 3.74 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0805570354 19-Jul-22 1000 200/1 100 USD Fixed 4.950 91.63 94.63 5.87 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS0974126186 25-Sep-20 500 100/1 100 GBP Fixed 5.338 90.38 95.38 6.36 BB+ /Ba1 /BBB-

Gazprom (Gaz Capital Sa) XS1038646078 26-Feb-21 750 100/1 100 EUR Fixed 3.600 91.38 94.38 4.72 BB+ /Ba1 /BBB-

Gems Mea Sukuk Ltd (S) XS0995041539 Perpetual 200 150/1 100 USD Variable 12.000 118.00 120.00 5.71 Not Rated

General Electric XS0880289292 30-Jan-43 700 200/1 100 USD Fixed 4.625 102.63 104.63 2.86 AA+ /A1 /-

Global Liman Isletmeleri XS1132825099 14-Nov-21 250 200/1 100 USD Fixed 8.125 93.25 95.75 9.00 - /B1 /BB-

Gol Finance US38045UAC45 03-Apr-17 84 2/1 100 USD Fixed 7.500 97.88 100.38 7.28 - /B3 /B-

Gold Fields Orogen Hold XS0547082973 07-Oct-20 1000 200/1 100 USD Fixed 4.875 90.00 92.50 6.54 BB+ /Ba1 /-

Greenko Dutch Bv USN3700LAA37 01-Aug-19 550 200/1 100 USD Fixed 8.000 96.13 98.63 8.38 B /- /B

Indian Oil Corp Ltd XS0654493823 02-Aug-21 500 200/1 100 USD Fixed 5.625 110.25 113.25 3.27 - /Baa3 /BBB-

Indian Oil Corp Ltd XS0955024236 01-Aug-23 500 200/1 100 USD Fixed 5.750 111.88 113.88 3.78 - /Baa3 /BBB-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Indian Railway Finance C XS0602696618 30-Mar-16 200 200/1 100 USD Fixed 4.406 100.88 102.88 1.24 BBB- /Baa3 /BBB-

Indian Railways Finance Co. XS0836520717 10-Oct-17 300 200/1 100 USD Fixed 3.417 100.50 103.50 1.94 BBB- /Baa3 /BBB-

Jsw Steel Ltd XS1133588233 12-Nov-19 500 200/1 100 USD Fixed 4.750 96.25 98.25 5.19 - /Ba1 /BB+

Klabin Finance Sa USL5828LAA72 16-Jul-24 500 200/1 100 USD Fixed 5.250 98.13 100.13 5.23 BBB- /- /BBB-

Kuwait Energy Plc XS1086694111 04-Aug-19 250 200/1 100 USD Fixed 9.500 93.50 95.50 10.84 B- /- /B-

Maoye International Hold USG5804GAE47 19-May-17 300 200/1 100 USD Fixed 7.750 97.13 100.13 7.68 BB- /Ba3 /-

Masisa USP6460HAA34 05-May-19 300 200/1 100 USD Fixed 9.500 93.75 96.75 10.51 BB- /- /BB

Millenium Offshore Services USY53653AA28 15-Feb-18 225 200/1 100 USD Fixed 9.500 102.00 105.00 6.48 B+ /B2 /-

Minsur Sa USP6811TAA36 07-Feb-24 450 150/1 100 USD Fixed 6.250 110.88 112.88 4.46 BBB- /Baa3 /BBB-

Nakilat Inc USY62014AB48 31-Dec-33 271 100/1 100 USD Fixed 6.267 115.63 118.63 4.75 A+ /A1 /A-

Nitrogenmuvek Vegyipari XS0928972909 21-May-20 200 200/1 100 USD Fixed 7.875 95.00 97.00 8.62 B+ /- /BB-

Norilsk Nickel OJSC XS0922134712 30-Apr-18 750 200/1 100 USD Fixed 4.375 98.25 100.25 4.29 BBB- /Ba1 /BBB-

Norilsk Nickel OJSC XS0982861287 28-Oct-20 1000 200/1 100 USD Fixed 5.550 97.38 99.88 5.58 BBB- /Ba1 /BBB-

Novolipetsk Steel OJSC XS0808632847 19-Feb-18 708 200/1 100 USD Fixed 4.450 94.13 96.13 5.97 BB+ /Ba1 /BBB-

Novolipetsk Steel OJSC XS0783934325 26-Sep-19 471 200/1 100 USD Fixed 4.950 92.00 94.50 6.40 BB+ /Ba1 /BBB-

NTPC Ltd XS0245398226 02-Mar-16 300 100/1 100 USD Fixed 5.875 101.75 103.75 1.36 BBB- /- /BBB-

NTPC Ltd XS0648477593 14-Jul-21 500 200/1 100 USD Fixed 5.625 112.25 114.25 3.08 BBB- /- /BBB-

NTPC Ltd XS0835676353 03-Oct-22 500 200/1 100 USD Fixed 4.750 107.00 109.00 3.37 BBB- /- /BBB-

NTPC Ltd XS1143390679 26-Nov-24 500 200/1 100 USD Fixed 4.375 104.50 106.50 3.57 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043011 25-Apr-24 1250 200/1 100 USD Fixed 5.625 106.88 108.38 4.48 BBB- /- /BBB-

Office Cherifien Des Pho XS1061043367 25-Apr-44 600 200/1 100 USD Fixed 6.875 110.50 112.00 6.00 BBB- /- /BBB-

Oil India Ltd XS1057074871 17-Apr-19 500 200/1 100 USD Fixed 3.875 103.25 105.25 2.48 - /Baa2 /BBB-

Oil India Ltd XS1056232322 17-Apr-24 500 200/1 100 USD Fixed 5.375 110.13 112.13 3.77 - /Baa2 /BBB-

Ongc Videsh Ltd XS0927643030 07-May-18 300 200/1 100 USD Fixed 2.500 99.25 100.75 2.24 BBB- /Baa2 /-

Ongc Videsh Ltd XS1084957155 15-Jul-19 750 200/1 100 USD Fixed 3.250 101.00 102.50 2.62 BBB- /Baa2 /-

Ongc Videsh Ltd XS0922882344 07-May-23 500 200/1 100 USD Fixed 3.750 100.00 101.50 3.53 BBB- /Baa2 /-

Ongc Videsh Ltd XS1079848369 15-Jul-24 750 200/1 100 USD Fixed 4.625 105.88 107.38 3.67 BBB- /Baa2 /-

Petrobras Global Finance US71647NAJ81 17-Mar-17 1400 2/1 100 USD FRN 2.631 95.63 97.63 3.94 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAL38 17-Mar-20 500 2/1 100 USD FRN 3.151 92.25 94.25 4.46 BBB- /Ba2 /BBB-

Petrobras Global Finance US71645WAL54 06-Oct-16 899 2/1 100 USD Fixed 6.125 100.00 104.00 3.24 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAG43 17-Mar-17 1600 2/1 100 USD Fixed 3.250 97.00 99.00 3.81 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAB55 15-Jan-19 2000 2/1 100 USD Fixed 3.000 92.63 94.63 4.59 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAH26 17-Mar-20 1500 2/1 100 USD Fixed 4.875 96.38 98.38 5.25 BBB- /Ba2 /BBB-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Petrobras Global Finance US71645WAR25 27-Jan-21 5250 2/1 100 USD Fixed 5.375 95.50 98.50 5.68 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAF69 20-May-23 3500 2/1 100 USD Fixed 4.375 89.75 91.75 5.66 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAM11 17-Mar-24 2500 2/1 100 USD Fixed 6.250 100.38 102.38 5.90 BBB- /Ba2 /BBB-

Petrobras Global Finance US71647NAK54 17-Mar-44 1000 2/1 100 USD Fixed 7.250 101.50 103.50 6.97 BBB- /Ba2 /BBB-

Petroleos De Venezuela S USP7807HAK16 02-Nov-17 6150 0.1/0.1 100 USD Fixed 8.500 74.88 77.38 20.50 CCC /- /CCC

PLN Indonesia US71568QAA58 22-Nov-21 1000 200/1 100 USD Fixed 5.500 107.88 110.38 3.70 BB /Baa3 /BBB-

Power Grid Corp Of India XS0875759184 17-Jan-23 500 200/1 100 USD Fixed 3.875 99.88 102.38 3.52 BBB- /- /BBB-

Pratama Agung XS1179926750 24-Feb-20 300 200/1 100 USD Fixed 6.250 97.00 99.00 6.49 BB- /- /BB-

Puma Intl Financing XS1022807090 01-Feb-21 1000 200/1 100 USD Fixed 6.750 103.63 105.63 5.08 - /Ba3 /BB

Ras Laffan Lng 3 USM8222MAB83 30-Sep-16 226 250/1 100 USD Fixed 5.832 102.38 104.38 2.65 A /Aa3 /A+

Ras Laffan Lng Ii USM8221WAA91 30-Sep-20 802 250/1 100 USD Fixed 5.298 107.13 109.13 3.43 A /Aa3 /A+

Reliance Holding USU75888AA26 19-Oct-20 1000 250/1 100 USD Fixed 4.500 106.13 108.13 2.88 BBB+ /Baa2 /-

Reliance Holding USU75888AC81 14-Feb-22 1500 250/1 100 USD Fixed 5.400 110.00 112.00 3.40 BBB+ /Baa2 /-

Reliance Industries Ltd USY72596BU56 28-Jan-25 1000 250/1 100 USD Fixed 4.125 101.75 103.25 3.72 BBB+ /Baa2 /-

Reliance Holding USU75888AB09 19-Oct-40 500 250/1 100 USD Fixed 6.250 115.75 117.75 5.01 BBB+ /Baa2 /-

Rural Electrification XS0579361428 25-Jan-16 500 100/1 100 USD Fixed 4.250 100.63 102.13 1.33 - /Baa3 /BBB-

Sabic Capital I Bv XS0554434240 02-Nov-15 1000 200/1 100 USD Fixed 3.000 100.13 101.63 -0.22 A+ /A1 /A+

Sabic Capital II Bv XS0971431613 03-Oct-18 1000 200/1 100 USD Fixed 2.625 101.13 102.63 1.83 A+ /A1 /A+

Sabic Capital I Bv XS0995811741 20-Nov-20 750 100/1 100 EUR Fixed 2.750 108.88 110.38 0.83 A+ /A1 /A+

Samarco Mineracao Sa USP84050AC02 26-Sep-24 500 200/1 100 USD Fixed 5.375 96.38 97.88 5.67 BBB- /- /BBB

Sasol Financing Int US803865AA25 14-Nov-22 1000 200/1 100 USD Fixed 4.500 101.13 102.63 4.09 BBB /Baa1 /-

Saudi Electricity Co (S) XS0764883806 03-Apr-17 500 200/1 100 USD Fixed 2.665 102.38 103.38 0.89 AA- /A1 /AA-



Saudi Elec Global Sukuk (S) XS1054250235 08-Apr-24 1500 200/1 100 USD Fixed 4.000 107.00 108.00 2.97 AA- /A1 /AA-


Saudi Elec Global Sukuk (S) XS1054250318 08-Apr-44 690 200/1 100 USD Fixed 5.500 111.13 112.13 4.73 AA- /A1 /AA-

Schahin Ii Finan Co Spv USG785ARAA65 25-Sep-22 652 200/10 100 USD Fixed 5.875 43.00 47.00 19.65 CC /B3 /B-

Shanghai Elc Grp Glb Inv XS1092649620 14-Aug-19 500 200/1 100 USD Fixed 3.000 100.88 102.88 2.29 A /A2 /A

Srilankan Airlines Ltd XS1080090126 27-Jun-19 175 200/1 100 USD Fixed 5.300 94.38 99.38 5.47 B+ /- /-

Syndicate Bank/London XS1073127901 04-Dec-19 400 200/1 100 USD Fixed 3.875 101.13 103.13 3.14 BBB- /Baa3 /-

TAQA XS0272948554 27-Oct-16 1000 100/1 100 USD Fixed 5.875 105.88 107.38 0.88 A- /A3 /-

TAQA XS0717839525 13-Mar-17 750 200/1 100 USD Fixed 4.125 104.00 105.50 1.14 A- /A3 /-


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch


TAQA XS0863523972 12-Jan-18 750 200/1 100 USD Fixed 2.500 101.00 102.50 1.55 A- /A3 /-

TAQA XS0380056183 01-Aug-18 500 100/1 100 USD Fixed 7.250 115.88 117.38 1.73 A- /A3 /-

TAQA XS0452300402 16-Sep-19 500 100/1 100 USD Fixed 6.250 115.88 117.38 2.08 A- /A3 /-

TAQA XS0717839871 13-Dec-21 750 200/1 100 USD Fixed 5.875 117.88 119.38 2.66 A- /A3 /-

TAQA XS0863524277 12-Jan-23 1250 200/1 100 USD Fixed 3.625 102.38 103.88 3.06 A- /A3 /-

TAQA XS1017435352 06-May-24 750 200/1 100 USD Fixed 3.875 103.13 104.63 3.28 A- /A3 /-


Tata Motors Ltd XS1121907676 30-Apr-20 500 200/1 100 USD Fixed 4.625 101.63 103.63 3.82 BB /Ba2 /-

Tata Steel XS1092182606 31-Jan-20 500 200/1 100 USD Fixed 4.850 101.88 103.38 4.06 BB /- /BB+

Tata Steel XS1090889947 31-Jul-24 1000 200/1 100 USD Fixed 5.950 103.88 105.38 5.21 BB /- /BB+

Topaz Marine Sa USL90608AA56 01-Nov-18 350 200/1 100 USD Fixed 8.625 92.25 95.25 10.27 B- /B3 /-

Transnet Soc Ltd XS0590902325 10-Feb-16 750 200/1 100 USD Fixed 4.500 101.38 102.88 0.78 BBB- /Baa1 /-

Transnet Soc Ltd XS0809571739 26-Jul-22 1000 200/1 100 USD Fixed 4.000 96.50 98.00 4.32 BBB- /Baa1 /BBB

Tullow Oil Plc USG91235AA22 01-Nov-20 650 200/1 100 USD Fixed 6.000 90.63 92.63 7.67 B+ /B3 /-

Tullow Oil Plc USG91235AB05 15-Apr-22 650 200/1 100 USD Fixed 6.250 89.63 91.63 7.83 B+ /B3 /-

Turkish Airln 15-1 A Ptt USU0567PAA40 15-Mar-27 328 2/1 100 USD Fixed 4.200 85.50 87.50 5.66 A- /A2e /-

Tupras-Turkiye Petrol Ra XS0849020556 02-May-18 700 200/1 100 USD Fixed 4.125 99.88 101.38 3.64 - /Ba1 /BBB-

Vale Overseas Limited US91911TAM53 11-Jan-22 2250 2/1 100 USD Fixed 4.375 98.75 100.25 4.33 BBB+ /Baa2 /BBB+

Vedanta Resources Plc USG9328DAF71 07-Jun-16 750 200/1 100 USD Fixed 6.750 100.38 102.38 4.50 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAH38 31-Jan-19 1200 200/1 100 USD Fixed 6.000 91.38 93.38 8.07 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAG54 07-Jun-21 900 200/1 100 USD Fixed 8.250 96.25 98.25 8.62 BB- /Ba3 /WD

Vedanta Resources Plc USG9328DAJ93 31-May-23 500 200/1 100 USD Fixed 7.125 89.63 91.63 8.58 BB- /Ba3 /WD

Videocon Industries Ltd (C) XS0566786546 16-Dec-15 194 100/100 100 USD Fixed 6.750 78.00 83.00 39.84 Not Rated

Waha Aerospace XS0528721623 28-Jul-20 825 100/1 100 USD Fixed 3.925 104.63 106.13 2.66 AA /Aa2 /AA

Yancoal Intl Res Dev USY97279AA45 16-May-17 450 200/1 100 USD Fixed 4.461 97.50 100.00 4.46 BB /Ba2 /BB-

Yancoal Intl Res Dev USY97279AB28 16-May-22 550 200/1 100 USD Fixed 5.730 90.75 93.25 6.96 BB /Ba2 /BB-

Yingde Gases Invstmt Ltd USG9844KAA72 22-Apr-18 425 200/1 100 USD Fixed 8.125 90.88 94.88 10.16 BB- /B1 /BB

Yingde Gases Invstmt Ltd USG9844KAB55 28-Feb-20 250 200/1 100 USD Fixed 7.250 83.88 88.88 10.22 BB- /B1 /BB

Zoomlion Hk Spv Co Ltd USY9896RAB79 20-Dec-22 600 200/1 100 USD Fixed 6.125 87.25 89.25 8.03 B+ /- /BB+


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Arcelik As XS0910932788 03-Apr-23 500 200/1 100 USD Fixed 5.000 94.63 96.63 5.53 BB+ /- /BB+

Arcelik As XS1109959467 16-Sep-21 350 100/1 100 EUR Fixed 3.875 100.38 102.38 3.45 BB+ /- /BB+

Car Inc XS1163232900 04-Feb-20 500 200/1 100 USD Fixed 6.125 102.75 104.75 4.99 BB+ /Ba1 /BB+

Golden Eagle Retail Group USG3958RAB53 21-May-23 400 200/1 100 USD Fixed 4.625 83.13 85.13 7.08 BB /Baa3 /BB+

Hikma Pharmaceuticals Pl XS1213834978 10-Apr-20 500 200/1 100 USD Fixed 4.250 100.00 102.00 3.80 BB+ /Ba1 /-

Abn Amro Bank Nv XS0619547838 27-Apr-22 595 200/1 100 USD Fixed 6.250 113.63 115.63 3.69 BBB- /Baa3 /A-

Abn Amro Bank Nv XS0827817650 13-Sep-22 1500 200/1 100 USD Variable 6.250 107.63 109.63 2.06 BBB- /NR /A-

Bank Of Scotland Plc XS0066120915 15-May-21 500 10/10 100 GBP Fixed 9.375 131.13 132.13 3.40 BBB- /Baa2 /BBB+

Barclays XS0322792010 Perpetual 117 100/1 100 USD Variable 7.434 109.75 112.25 2.58 BB /Ba1 /BBB-

Barclays XS0397801357 Perpetual 3000 50/1 100 GBP Variable 14.000 132.50 135.50 4.40 BB /Ba1 /BBB-

Barclays Bank Plc US06740L8C27 21-Nov-22 3000 200/1 100 USD Fixed 7.625 116.13 118.13 4.74 BB+ /NR /BBB-

Barclays Bank Plc US06739FHK03 10-Apr-23 1000 200/1 100 USD Variable 7.750 110.00 112.00 3.43 BB+ /NR /BBB-

Citigroup Inc XS0180008905 18-Nov-15 250 1/1 100 GBP Fixed 5.500 100.63 102.63 0.71 A- /Baa2 /A

Commerzbank Ag XS0101360161 30-Aug-19 150 10/10 100 GBP Fixed 6.625 110.38 112.38 3.49 BB /Ba2 /BBB-

Commerzbank Ag DE000CB83CF0 16-Mar-21 1250 100/100 100 EUR Fixed 7.750 125.00 127.00 2.72 BB /Ba2 /BBB-

Credit Agricole FR0010533554 Perpetual 500 2/2 100 USD Fixed 7.375 102.13 104.13 -1.36 BB+ /Ba2 /BBB-

Credit Agricole Sa USF22797RT78 Perpetual 1750 200/1 100 USD Variable 7.875 106.13 107.63 6.71 BB /NR /BB+

Credit Europe Bank NV XS0878492791 24-Jan-23 400 200/1 100 USD Variable 8.000 99.38 102.38 7.02 - /B2 /B+

Goldman Sachs Group Inc XS0212249014 15-Dec-15 600 1/1 100 GBP Fixed 5.250 101.75 102.75 0.83 A- /Baa1 /A

Jaguar Land Rover Automo USG5002FAE63 15-Mar-20 500 200/1 100 USD Fixed 3.500 99.13 100.63 3.35 BB /Ba2 /-

Jaguar Land Rover Automo USG50027AB03 15-May-21 84 150/1 100 USD Fixed 8.125 110.50 112.00 0.44 BB /Ba2 /BB-

KBC Bank NV BE6248510610 25-Jan-23 1000 200/200 100 USD Variable 8.000 110.88 112.38 3.23 BBB- /NR /-

Lloyds Bank Plc XS0517466198 07-Sep-15 75 1/0.1 100 GBP Fixed 5.375 99.88 101.88 0.05 A /A1 /A

Lloyds Bank Plc US53947QAA58 14-Sep-20 2000 100/1 100 USD Fixed 6.500 116.63 118.63 2.74 BBB- /Baa2 /BBB+

Lloyds Bank Plc XS0717735582 16-Dec-21 466 1/1 100 GBP Variable 10.750 114.63 115.63 1.02 BBB- /Baa3 /BBB+

Macquarie Bank Ltd US55608YAA38 07-Apr-21 1000 2/1 100 USD Fixed 6.625 116.00 119.00 3.09 BBB /Baa2 /A-

Macquarie Bank Ltd XS0543111768 21-Sep-20 600 50/50 100 EUR Fixed 6.000 119.75 122.75 1.57 BBB /Baa2 /A-

Mizuho Group XS0803109270 18-Jul-22 1500 200/1 100 USD Fixed 4.200 104.25 107.25 3.07 A /A2 /-

Morgan Stanley XS0236338504 30-Nov-15 325 50/1 100 GBP Fixed 5.125 100.63 102.63 0.61 A- /Baa2 /A

Morgan Stanley XS0531922465 10-Aug-20 1500 50/50 100 EUR Fixed 5.375 122.75 123.75 0.77 A- /Baa2 /A

Morgan Stanley US61747WAF68 25-Jan-21 2592 100/1 100 USD Fixed 5.750 115.25 117.25 2.50 A- /Baa2 /A

Miscellaneous

Various Developed Market Issues


April 28, 2015


Amnt (Mn)

Min Piece/

Incr. (000)

Value at


Offer Yield

%

Credit Rating

S&P /Moody /Fitch

Natixis USF6483LHM57 Perpetual 186 100/1 100 USD Variable 10.000 117.75 120.75 2.74 BB+ /Ba2 /BBB-

Natl Westminster Bank XS0090254722 07-Sep-21 300 10/10 100 GBP Fixed 6.500 114.75 116.75 3.51 BB+ /Ba2 /BBB-

Prudential Plc XS0873630742 Perpetual 700 200/1 100 USD Fixed 5.250 102.13 104.13 3.74 A- /Baa1 /BBB+

Rabobank Nederland XS0826634874 14-Sep-22 1000 100/1 100 EUR Fixed 4.125 116.13 118.13 1.51 BBB+ /A2 /A+

Rabobank Nederland XS0583302996 Perpetual 2000 100/1 100 USD Variable 8.375 105.00 107.00 2.59 - /- /BBB

Rabobank Nederland XS0703303262 Perpetual 2000 100/1 100 USD Variable 8.400 109.13 111.13 3.04 - /- /BBB

Royal Bk Of Scotland Plc XS0356705219 09-Apr-18 2000 50/1 100 EUR Fixed 6.934 113.25 115.25 1.59 BB+ /Ba2 /BBB-

Royal Bk Of Scotland Plc XS0753308559 16-Mar-22 2132 1/1 100 USD Variable 9.500 111.50 113.50 2.13 BB+ /NR /BBB-

Royal Bk Scotlnd Grp Plc US780099CE50 15-Dec-22 2250 2/1 100 USD Fixed 6.125 111.13 113.13 4.10 BB /Ba3 /BBB-

Societe Generale XS0503530874 17-Dec-15 350 50/50 100 GBP Fixed 3.875 100.13 102.13 0.49 A /A2 /A

Standard Chartered Plc XS0874014722 11-Jan-23 2000 200/1 100 USD Fixed 3.950 99.13 101.13 3.78 BBB /A3 /A+

UBS AG CH0214139930 22-May-23 1500 200/1 100 USD Variable 4.750 101.75 103.75 3.44 BBB /NR /BBB+

Unicredit Spa XS0849517650 31-Oct-22 1500 100/1 100 EUR Fixed 6.950 121.88 123.88 3.30 BB /Ba2 /BBB

Unicredit Spa XS0925177130 02-May-23 750 200/1 100 USD Variable 6.375 105.88 107.88 3.59 BB /Ba2 /BBB

Egypt 3M T Bills N/A 28-Jul-15 2500 500/25 100 EGP Zero Cpn N/A 97.05 97.52 8.15 B/B2/B+

Egypt 6M T Bills N/A 27-Oct-15 3000 500/25 100 EGP Zero Cpn N/A 94.23 95.12 8.22 B/B2/B+

Egypt 9M T Bills N/A 19-Jan-16 4000 500/25 100 EGP Zero Cpn N/A 91.71 92.95 8.32 B/B2/B+

Egypt 1Y T Bills N/A 19-Apr-16 4000 500/25 100 EGP Zero Cpn N/A 89.22 90.81 8.28 B/B2/B+

(C) Denotes a Convertible bond

(S) Denotes a Sukuk

* Offer Yield adjusted for tax

Egypt T Bills

mashreq€¦ · the inauguration of state oil firm saudi aramco's new research and development...

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